- August 29, 2013
- Posted by: Taurus Collections
- Category: Uncategorized
Many small to medium sized businesses in the UK will employ a credit controller when collecting a debt and to manage their debt collection processes, some business owners even do it themselves in order to save time (by not having to tell someone else what to do) and money (by not paying an agency or outsourced company). However, this can be a false economy.
In-house debt collection can be effective to a point, and it is imperative to maintain strict credit control procedures when collecting a debt for new sales, but it is the time, money and resources in keeping up with the bad debts that we hear about most. All too often, we speak to business owners admitting their customers have “gone under the radar” due to having:
1) new business to gain
2) staff to manage
3) more important debts to chase!
We find a pro-active approach to collecting a debt is the most successful, pay close attention to your new debts, but pay even closer attention to your old debts. Collecting a debt is a time-consuming and arduous job and a Collection Agency has all the tools, and patience, to help you as a small business.
Is collecting a debt a problem for your business? Call us on 01332 565350 for a no obligation chat to see how we can help you out.