Over 90% of big businesses and approximately 10% of small businesses rely on professional debt collection agencies
For every business serious about maintaining optimum cash flow, it is imperative that effective practices be implemented for securing monies owed and curtailing potential debtors. The past several years have seen some troublesome statistics materialize with respect to commercial debt collection. The statistics are particularly upsetting for small and medium-sized businesses trying to collect on their invoices.
The likelihood of successful debt recovery is increased dramatically when the process is outsourced to a reputable, third-party commercial debt collection agency. In fact, today, it is estimated that over 90% of big businesses and approximately 10% of small businesses rely on professional debt collection agencies, with middle-market businesses falling within that mean. These companies are already benefiting from having a third-party commercial collection agency oversee their debt collections.
Collection industry statistics show that almost all delinquent accounts will be collected if placed with a debt collection agency within 30 days of the due date. With the economic downturn we have all witnessed this year, time is of the essence if you want to avoid costly write-offs that can lead to closed doors on your own business. Using a collection agency early will help the money get collected faster especially in today’s economy.
Burt and Associates offers our clients:
- Commitment to high standards as evidenced by membership in key industry associations including the Commercial Law League of America (CLLA) and the Commercial Collection Agency Association (CCAA).
- Burt & Associates is one of the few commercial collections agencies that is Type II, SAS 70 Certified. This SAS 70 certification can be part of the solution to your Sarbanes-Oxley compliance requirements you must maintain with outside vendors.
- Qualified professional and longstanding staff members.
- Broad and strategically situated geographic coverage (i.e., in the United States, Europe, Asia, etc.).
- Credit management services (call center, asset location and skip tracing, etc.).
- State-of-the-art technology including a secure wide area network, sophisticated voice, data, and video-conferencing systems to facilitate optimum communications.
- Effective reporting via a 24/7 Web-based system.
- A proven track record serving businesses in diverse industries ranging from manufacturing and distribution to telecommunications, professional firms and education.