On Red Flags and Warning Signs Vienna 4 Jun, 2019 Collection Prevention, Vienna's Views No comment I know I’m beating the same old drum but it all bears repeating. It always (almost) comes back to you, not the guy who owes you the money, he’s got his own problems. If you want to avoid collections (doesn’t everyone?) you’ve got to pay attention… here’s a list of red flags and warning signs Continue Reading… Share this:TwitterFacebookLinkedIn
Discounts & Late Fees Vienna 5 Apr, 2019 Vienna's Views No comment Charging late fees and offering discounts for early payment may seem like a no brainer to you but in fact there are differing opinions. In general, I’m not a fan of either. Our friends over at The Kaplan Group argue in favor of late fees and against discounts for early payment. Their experience with discounts Continue Reading… Share this:TwitterFacebookLinkedIn
10 Accounts Receivable Collection Call Tips Vienna 28 Dec, 2018 Vienna's Views No comment Here are some quick tips for making effective accounts receivable collection calls. Make the calls! It’s easy to find something else to do but making your collection calls regularly will improve your cash flow and reduce your bad debt losses. It’s the single most effective way to make sure you get paid on time. Start Continue Reading… Share this:TwitterFacebookLinkedIn
Collection Prevention Part 3 Vienna 19 Nov, 2018 Accounts Receivable Management, Collection Prevention, Vienna's Views No comment Accounts Receivable Collections Collection Prevention Part III Not to be annoying but I have a couple more things to say about invoicing. Last month I failed to mention either terms or late fees. Both are important so I think it’s worth taking up a bit more space to talk about them. Terms First terms, you Continue Reading… Share this:TwitterFacebookLinkedIn
Accounts Receivable Invoicing Errors Vienna 9 Nov, 2018 Accounts Receivable, Vienna's Views No comment Accounts Receivable Invoicing Collection Prevention Part 2 Accounts Receivable Invoicing is step 2 in a 3 step path to payment. Make a sale Create and send an invoice Collect payment for the invoice When all goes well, it’s a simple and elegant process leading to positive cash flow and profitability. Unfortunately, the number of ways Continue Reading… Share this:TwitterFacebookLinkedIn
Credit Reporting & The FDCPA – What You Need To Know Vienna 15 Aug, 2018 Credit Policy, Vienna's Views No comment Share this:TwitterFacebookLinkedIn
Contingency Collections – No Collection No Fee? Vienna 11 Jun, 2018 Contingency Collections, Vienna's Views No comment Contingency Collections and How it Works Sometimes we forget not everyone understands industry jargon. No collection no fee is the concept behind contingency collections and it’s the collection model most people are familiar with. Here’s how it works. You give me your collection account and if I can collect it I keep a percentage of Continue Reading… Share this:TwitterFacebookLinkedIn
The Truth About Collections Vienna 10 May, 2017 Accounts Receivable Management, Collection Prevention, Vienna's Views No comment The Truth About Collections Ben Franklin first said it in 1735 almost 300 years ago – and it’s as true today as it was then. “An Ounce of Prevention is Worth a Pound of Cure” I mention this because one truth you need to know about collections is that an average collection agency has Continue Reading… Share this:TwitterFacebookLinkedIn
7 Ways to Guarantee Collections FAILURE! Kevin 4 Apr, 2015 Default, Vienna's Views No comment Accounts Receivable and Debt Collection Failures Most small business owners know they have to do something to collect receivables in a timely manner. Even if you don’t know the statistics, personal experience has surely taught you that not everyone pays on time, and those late payments cost you money. Does this scenario sound familiar? Business Continue Reading… Share this:TwitterFacebookLinkedIn
How to Collect Small Balances Kevin 17 Oct, 2014 Default, Vienna's Views No comment Collecting Small Balances I wrote an article last year about collecting small balances and in it I suggested that “putting a simple system in place for collecting your small balances will reap the rewards without draining you of time and energy” but I didn’t give you the system. Don’t know what I was thinking. So Continue Reading… Share this:TwitterFacebookLinkedIn
