Why Collections?

Let's face it. In today’s economy, Net60 is the new Net30. Even if you have a very stringent internal policy, your company will most likely still have unpaid receivables. That's where we fit in. So why use a collection agency?

Using an internal collections manager or staff is almost always more expensive than hiring a professional collection firm. Especially if the employee is distracted from their regular duties, such as accounting or billing, you may lose money and time if you don't have an agency working to increase your cash flow. You can save the time and the expense of:

  1. Establishing your own collections department.
  2. Researching the necessary rules that govern collections.
  3. Creating forms and documents such as collection letters and telephone collection scripts.
  4. Insurance for liability in the case of a legal action by a customer.
  5. Proving your due diligence required by the IRS before you write off debt. By law, an extensive effort must be made to collect money owed to you. By hiring a professional agency, you will have this proof of due diligence in case you get audited.
  6. You may not want to contact your customers directly. For instance, letting an agency contact business customers is appealing to a company who may not want staff members to feel any ill will from past-due account problems.

A well managed collection agency that has experience and expertise may bring in more payments to your company or business, in turn increasing your cash flow. This will easily outweigh the minor expense of hiring a professional agency like Powell, Rogers & Speaks.

We are here to help, one account at a time. Discover the PRS Advantage and Contact us today!

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