Monday, February 29, 2016

The Physiology of Making Collection Calls

If not done correctly, collecting past due receivables can actually have a negative impact on the human body. According to in a typical work day people sit an average of 5 hours and 41 minutes each day.  Researchers indicate that the cumulative impact of sitting all day for years is associated with a range of health problems, from obesity to diabetes to cancer.

Health experts say that sitting is the new smoking.

For example, sitting in an office chair all day can lead to:

·         Poor posture
·         Poor digestive activity
·         Eye strain
·         Obesity
·         Neck injuries such as herniated discs.
·         Bad voice projection, and;
·         Poor voice inflection

Top credit analysts and collectors know that communicating with a clear voice that is strong, yet measured - goes a long way to ensure you are heard and exudes confidence in your delivery.  Opera, professional singers and stage performers know that voice training as well as proper posture all contribute to successful and clear communication.

There are many ways to give yourself this advantage in your own office:

·         When making a collection call, stand up. People in your office are going to notice – so have fun with it.
·         Make sure you have a clear goal in mind before you make the call.  Never “just wing it”.
·         Purchase a stand up desk that you can adjust up or down as required. We have included a picture of a desk that we use called
·         Purchase a longer telephone receiver cord or even better, a Bluetooth enabled headset.  If you’re going to stand up during your collection calls, you may as well get your daily steps in too.

As we all get older, obesity can be the number one problem unless you make a conscience effort to have more movement throughout the day. The key to reducing the risk of obesity is consistent, moderate levels of movement throughout the day.

Tuesday, February 2, 2016

It’s Like Our “Cadbury Secret” – Get the Benefit of Our High-Power Collection Tool

“Hello? I’d Like to Pay My Account…”

Every business has those customers whose balances are consistently under $1,000.00 per month.  When reviewing your accounts receivable, these customers don’t really register on the radar because you likely have bigger balances to keep your eye one.  If your business is highly transactional (many unique customers with small balances); then these $1,000.00 balances begin to amount to a lot of money.

So How Do You Manage These Customers For Maximum Profit?

Priority Credit Recovery (PCR) concluded a successful campaign for an international paint manufacturer.  The manufacturer has many retail and commercial outlets across Canada and the U.S.A. where commercial painting companies could purchase supplies on an open account.  Over the course of time, several thousand customers with smaller balances began to make a dent in the manufacturers’ cash flow.  This company needed a way to contact the customer requesting payment, yet preserve the customer relationship without hiring an army of receivable staff.

After careful review of the manufacturers’ requirements, PCR designed a custom contact campaign designed to get the commercial customers to call the manufacturer and speak with their receivable team.  The campaigns were unique to each office across the country, taking into consideration time zones, and optimal calling times. 

56% of All Small Balance Accounts Paid Within 10 Days!

The custom campaigns resulted in 56% of the customers paying their accounts in full.  And a majority of them immediately placed another order.  Disputes were solved and miscommunication eliminated.  The manufacturer was able to make contact with thousands of customers without adding extra staff or paying fees to temporary staffing companies.  And most importantly, the manufacturers customers had no idea PCR was involved.

If your company struggles with the management of low margin past due customers – give us a call today for a confidential consultation.  PCR has many tools at our disposal that can assist you without the fear of sending your customer to a collection agency.  Priority Credit Recovery Inc. is a member of The PCR Group of Companies where our goal is to be your #1 choice for credit services.

Cash flow is the lifeblood of your business.  At PCR, We Protect Your Corporate Heartbeat®