The True Cost of Bad Collecting
Outsource your accounts receivable to reduce stress
Once upon a time, you dreamed of building your own business. That dream came true, but not without its challenges! Collections of debts and chasing unpaid invoices can cause real headaches for many businesses. Cashflow is essential; but unfortunately not all business owners are well-equipped to deal with their collections.
So what is it costing your business when collections are not well-handled? What do aged invoices mean for your business? How would you know if your collections process actually works? And, if it doesn’t, what do you lose?
Here’s a simple answer: Valued resources which cost you and your customers.
If you find yourself spending too much time and energy on the phone chasing after debtors, you might not be doing your business any favours. Instead of focusing that time and energy on gaining new customers, you’re losing more and more opportunities for business growth.
On the other hand, the problem might be within your collections process. Perhaps the whole system is not efficient or particular departments are not given necessary notice. Whatever the issue might be, it’s crucial that these are identified and solved immediately because ultimately, it will take a toll on you and your business.
All these problems revolve around one thing: Debtors.
Don’t let debtors disrupt your business.