Most debt collection agencies use collection call scripts but how do you know you’re getting all you can out of yours? We reached out to several experts in the industry for their advice on using call center scripts. They discussed the pros and cons of using call scripts, elements they should contain, and the important link between call scripts and …
Organizational Management: Tools for Better Productivity
Organizational management is a challenge for most small business owners. It requires balancing team management and customer satisfaction while working toward company growth. This often means: Handling client contracts Monitoring payment collection efforts Dealing with compliance issues Keeping up with personnel and administrative tasks Managing other day-to-day office operations What is Organizational Management? Organizational management is the act of planning, …
Managing a Multigenerational Workforce: Key Tips
Effective team management transforms your office. It can create an environment where a multigenerational workforce comes together to make a winning team. But managing different generations in the workplace isn’t always easy. A good manager must take into account the backgrounds and experiences each employee brings to their work — experiences that change with every generation.5 Generations in the Workplace …
Simplify Operations With Business Process Automation
Do you wish your business could accomplish more tasks with fewer tools and resources? Using business process automation to manage client contracts, customer agreements, and payments will simplify the way you work. Old manual processes slow down operations and make it harder to juggle projects and internal workflows. Embracing business process automation is the best way to speed up deals …
Send Bulk Messages to Scale Your Business
Sending digital communications to customers has a lot of advantages. It’s fast, easy, and creates a detailed record for your company and the recipient. As your business grows, sending bulk messages helps you hang onto these advantages without sacrificing more time and effort. Bulk Message Meaning Sending bulk messages means following the practice of creating and delivering personalized messages to …
3 Proven Tips to Reduce Outstanding Invoices and Avoid Late Payments
Running a business comes with many internal and external concerns, from training and team management to focusing on brand reputation. But if your company has excessive outstanding invoices or delayed payments, cash flow will stall and the health of your business will suffer. Reduce late payments from customers, keep revenue flowing and free yourself up to focus on other aspects …
Team Leadership: Seven Steps to Lead a Winning Team
The California Association of Collectors (CAC) conference and expo held each year in October features some of the best leaders in the credit and collection industry. Many of the sessions center on best practices for successful agencies, but some sessions provide unique advice which can be applied to all aspects of personal, professional and team leadership communication, no matter what …
Hiring Process Steps to Build a Strong Debt Collection Team
This post was originally written by Mary Shores, agency owner of Midstate Collection Solutions, and was recently updated. It’s no secret that the hiring process has become a challenge in most industries, and the debt collection industry is no exception. We spend time writing job descriptions and interviewing, only for our candidates to change career paths. Or, we choose a …
How To Create a Credit Policy and Collection Procedure
The blueprint most businesses use to collect on accounts receivable is called a credit and collection policy. The guidelines are typically broken into two sections: a credit policy and a past-due collection procedure. The framework can be as detailed or as broad as is necessary for your office. Providing this direction to your employees is essential. Unfortunately, many businesses don’t …
Accounts Receivable Collections Best Practices: Handling Late Payment Excuses
Every employee will encounter late payment excuses in accounts receivable collections. Greg Ruffino, a successful coach and trainer in the accounts receivable industry, is well-versed in the difficulties a consumer’s payment stalls and objections can cause. Ruffino shared his knowledge on the subject, including common excuses for late payments consumers give and effective debt collection techniques to overcome them.Payment Excuses …
A Guide to Lawyer Trust vs Operating Accounts
As a law practice, it’s important to follow rules for how to handle a client’s money. This means keeping funds separate through different lawyer trust accounts and operating accounts. Using multiple accounts to manage these finances can be tricky. It’s essential to have strict financial management practices and payment software that can handle multiple lawyer trust and operating accounts.What is …
Use Root Cause Analysis Methods to Improve Policies and Procedures
Courtney Reynaud, President and CEO of Creditors Bureau USA, has found success in her agency with careful attention to policies, procedures, and work instructions. But, she didn’t always have such a strong compliance management system. Before her office focused on these practices, she noticed blame would often be placed on a single employee or a client. Reynaud explained that blaming …
