You are already into the financial year 2019! It’s the time that you work smarter than harder, especially when dealing with debt recovery. The paperwork and time behind chasing up overdue, unpaid invoices can often be stressful. If you lack the expertise and the most effective ways to recover the debts, you will end up jeopardising your valuable client relationship. That’s why it is highly recommended to work with a professional debt collection agency that can protect your business against mounting debt. There are several reasons why you should outsource debt recovery at the end of the financial year (EOFY).
Guarantee Good Cash Flow:
A sensible collection of overdue payments improves the knack of your business to maintain good cash flow. Positive cash flow means you will have enough fund to invest in or expand your business operations.
Perhaps, another benefit of outsourcing debt recovery to a collection agency is that you can save a considerable amount of costs on hiring, training and paying an in-house debt recovery team.
Increased Recovery Rate:
Hiring a collection agency increases the debt recovery rate. They will take over the entire accounts and get all your invoices paid faster. In fact, the agency acts as an extension of your brand, which in turn increases the success rate.
Get Your Credit Terms Updated:
The debt collection agencies can help you set credit terms that are favourable to your business. They will revise your terms, ensuring that you have penalty clauses in all credit documents. This will allow you to recover your debts and improve your credit control.
Establish Good Client Relationship:
A well-established debt collection agency will help to build rapport with your clients and customers, whilst encouraging them to make payment as quickly as possible. This means that you will not only get the debt paid but also have the client relationship maintained.
JMA Credit Control is a leading debt collection agency in Australia that offers a high standard of expertise and years of service in the debt recovery industry. Our debt collectors strictly adhere to all statutory legislation and industry guidelines at all times. What are you waiting for? Call us at 1300 588 728 to confidentially discuss your debt recovery needs today!