Share this Article By now, every legitimate business should have a working website. Debt collection agencies are no exception. The objectives your debt collection website should achieve, however, are unique. Debt collection agencies have three main purposes: help consumers resolve their debts, attract new clients to grow your business and to hire new staff members. The challenge is understanding how …

Share this Article In the financial services industry, you need to be able to prove legitimacy and build trust with consumers and potential clients. The best way to do this is to build your web presence through a great company website.  We spoke to the experts at Metric Marketing to learn what elements every business should consider when creating or …

Share this Article As a manager, you work hard to balance the external parts of your business like sales and customer service with internal aspects like hiring, training and team management. If your customers don’t pay their bills on time though, cashflow stalls and all your hard work amounts to nothing. Here are some basic tips you can use to …

Share this Article For self-sufficient professionals, it can be hard to let go of control and share the workload. For some, this leads to recognition and exceptional accomplishments – if things go right. Oftentimes, though, tasks get forgotten, details are overlooked, and staff experience burnout. In the long run, working groups can be a more efficient way to solve difficult …

Share this Article To ensure a successful transaction from start to finish, each department in your company should have a playbook to outline the basics. The department responsible for payment collection – whether it’s called billing, invoicing, collection or, most often, accounts receivable – is no exception.  Providing this direction to your employees is essential. A policy manual outlines the …

Share this Article The Consumer Financial Protection Bureau (CFPB) recently released their Notice of Proposed Rulemaking (NPR) for the debt collection industry. Even if creditors have heard about this news, not all are likely to have read the hefty document. However, if your business or department handles AR billing, there are elements of the new proposed rule that will impact …

Share this Article Managing the money customers owe your business is a vital – often overlooked – part of maintaining a healthy business. If your accounts receivable (or billing) department could use some attention, start with the basics. Here’s a glossary of accounts receivable management terms every AR billing professional should know. Accounts receivable is the unpaid funds owed to …

Share this Article Industry experts are certain electronic communication will play a part in the final CFPB debt collection rule once it is created. This means agencies will be given clearer guidelines on how text messages and emails can be used for communication with consumers. Sending communications through electronic channels offers consumers more choice in how they can resolve their …

Share this Article If your business provides goods or services without requiring full payment up front, this unpaid money is categorized as accounts receivable (AR). The process of sending invoices, collecting payments, and pursuing unpaid balances makes up the AR billing system your company most likely already follows.   In fact, most offices have a dedicated department in their organization …

Share this Article The slow adoption rate of law firm technology has been discussed in the legal industry for years. In 2016, LexisNexis covered law firms and technology, centering on why firms have struggled to keep up. The article cited a report that suggests it is because “most lawyers have a tendency to believe their own practice is better equipped than …