Tuesday, February 28, 2012

Benefits of a Good Old-Fashioned Phone Call

Business owners and credit professionals are bombarded everyday with emails, advertisements, meetings, and text messages all wanting you to spend money on the latest greatest service or gadget. What about the money you’ve already spent? Wouldn’t it be great to get some of it back?

When hiring a third party collection agent or lawyer to collect your past due accounts, sometimes it can be tough to simply find the time to gather the information together to forward to your vendor. Up to 80% of the time you have information in your head that doesn’t appear in your customers file such as: your customer’s names, assets, email addresses, and cell numbers. This information can mean the difference between getting your money or not.

At Priority Credit Recovery, we recognize our clients are busy. We also know that you probably didn’t need another email. Therefore our commercial collection staff will call you personally within 2-3 business days of receipt of your account. We will give you a fast status update and let you know the good/bad or ugly news.

This is also the time to give us more information about your customer. We will make a note of our conversation with you and use the information to prompt payment from your customer.

Two things happen here:

1) You are completely informed as to what we are doing for you, and;

2) We are able to fully exploit every detail in our attempt to recover your funds.

While a simple phone call almost sounds quaint in this age of light-speed electrons, we find its helping to increase our recovery rates and our clients tell us they really appreciate being kept in the loop. Information from your collection provider helps you to set or adjust provisions for loss, review sales commissions claw backs, and initiate risk management strategies based on what may have been learned during our conversation.