Whether it is simply for advice surrounding problem invoices or for an ongoing credit control service, debt collection agencies are used by thousands of businesses of all kinds across the UK.
Why do companies use external providers when it comes to debt collection and credit control:
- Regain time and resource to focus on newer invoices or core business.
- Peace of mind that balances are in safe hands.
- Access collections expertise that will rival and eclipse in-house resources to bring results.
Businesses who choose to use a debt collection agency have typically experienced at least one of the following problems:
- Insufficient internal resources or expertise
- In-house collections efforts have failed or are underperforming.
- A significantly overdue debt.
- A customer that is uncontactable.
- A customer that is disputing the invoice.
The following are examples of the types of companies that benefit from using a debt collection agency.
- Fast-growth companies
When a company experiences significant growth, whilst exciting, it also presents some challenges when it comes to collecting payments from customers. Your employees might not have enough time, resource or expertise to cope with an increased volume of invoices each month and so hiring external services to deal with these matters is the most logical step to take.
- New businesses
When you start a new business, typically all the roles fall into one or a few people’s hands This often means that the person responsible for credit control may not have the experience or expertise needed to get the right results.
Using a debt collection agency will allow you to access expertise that will undoubtably bring results and will also allow you to focus on getting your business off the ground.
- Utilities companies
Commercial utilities companies such as water, telecoms and energy providers often work with debt collection agencies. It is the complicated nature of customer relationships in this sector which creates demand for the use of debt collection agencies.
By working with trusted debt collectors utilities companies can save valuable time whilst ensuring that their reputation is protected at all times.
Above are just three examples of companies that often use debt collection agencies. If you need any help or advice please do not hesitate to call us on 03333200748 or email us at firstname.lastname@example.org.