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The Advantages of Outsourcing Debt Recovery

A business without a good debt recovery system is like a bucket with big holes in it. No matter how much effort you expend filling it up, your bucket is only ever partly filled. Efficient debt recovery procedures ‘plug the holes’ where earned income is slipping away and ensure that the business receives what it has rightfully earned.

Many businesses tend to focus much of their time and effort into the front end of their sales campaign whilst neglecting to bring up the rear.  Many also lack the time, resources and expertise to quickly and efficiently recover unpaid debts.

The reality is, recovering debts can be time-consuming, expensive and inefficient if you lack the relevant expertise and the right tools. This is why smart businesses are discovering the benefits of outsourcing the task of debt recovery to a professional debt collection agent.

 

the advantages of outsourcing debt recovery

 

 

 

What are the advantages of using a specialist debt recovery agent?

Reduce costs

A business’s hiring and training costs can be reduced as internal debt collection staff are no longer required. A commercial agent’s services are scalable to meet your needs, so you can receive affordable debt recovery services no matter what your size.

As debts come in faster, your business will also have improved cash flow meaning less reliance on finance for investment and growth.

 

Read Also: How to Manage Debt Recovery Dispute

 

Reduce arrears

Each debt is unique so the strategy required to get the best result will vary from case to case. A good debt collection agency has a wealth of skill and expertise on recovering debts in a variety of circumstances and knows how to resolve debt disputes promptly. This means you can have more debts paid off faster and less arrears at any given time.

 

Maximise productivity and revenue

More money coming through the door means real revenue, not just figures on paper. Some businesses even find they can generate more revenue for the same amount of work because their productivity is finally optimised. A larger proportion of time spent generating sales is being rewarded and maximum profits can be received for the efforts made.

 

Buy back time for your staff

Outsourcing debt collection work frees up your sales and accounting employees to do what they do best, generating sales and getting your administration department humming. Staff morale often also improves, as many employees find debt collection a challenging task.

 

Preserve your client relationships

By retaining a third party to correspond with your clients regarding debts you can distance yourself from the “bad role” of debt collector and avoid negative interactions with your clients. This enables businesses to maintain positive business relationships and promote better client retention.

No matter what the size of your business, getting paid for your work in a timely manner is fundamental to sustainability and growth. So why not consider boosting your revenue, productivity and staff morale by outsourcing to a professional debt recovery agent.

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  • I have known the principal of the BOSTON Group (Derryn HARRISON) as well as key staff members (including Ben GOWER) for well over 2 decades and have been using their professional services for myself as well as for Powerhouse Logistics Pty. Ltd. on a regular basis, not only in Sydney but on a national basis.

    At all times BOSTON have been extremely pro-active, attentive, courteous and professional with all matters we threw at them. Their advice has always been extremely sound and commercial and I find them to be a "breath of fresh air" within the legal fraternity and have no hesitation whatsoever to highly recommend them.

    Peter Brueckner

    Powerhouse Logistics Pty Ltd (CEO)

  • Expect A Star has worked with The Boston Group for 10 years. In this time we have appreciated the ongoing support of Boston for all of our collection and legal requirements. Like most businesses cashflow is critical to ongoing success and growth, with Boston we have found a partner who are an extension of our business and play a key part in our cashflow management. The Boston Group bring a level of expertise to our business which is valuable and coupled with their excellent customer service we look forward to continuing to work with them for many years to come.

    Ryan Meldrum

    Former CEO

  • I have been using the services of The Boston Group and their legal entity for over 11 years. During this time I have found their service to be impeccable, delivered with the utmost professionalism and integrity. The vast majority of cases that I have placed with Boston were far from straightforward, requiring legal acumen and delicate handling. Having used all methods available without success to procure payment, I confidently placed these matters into their safe hands. In all instances a successful outcome was achieved.

    Mark Parish

    Credit Manager

  • SNP Security has had the pleasure of working with Boston Commercial Services for the past 11 years. Boston has played an integral part in the continuing success of SNP Security’s low DSO’s, 90 Day % Debt & of course Bad Debts Written Off.

    Amanda Griffiths

    National Administration Manager

Boston Commercial Services is well known debt collection agency in Sydney, Melbourne and Brisbane who has long experience in debt collection.