Take a moment to think carefully about the subscriptions that you pay for every month or year. If you’re like many Americans, the list includes things like Amazon Prime, Netflix, Hulu, Disney+, Bark Box and more. While you might not think of a subscription-based model when it comes to your
Whether you’re a small business starting to grow or a mid-sized business looking to meet the needs of more customers, you might be mulling over extending credit to some of your clients. When extending credit in a B2B space, it’s critical that you have a thoughtful, formal approach to ensure
At Alacrity Collections Corporation, we work hard to successfully negotiate with debtors and recover as much as possible for our clients. That also means that we are skilled in negotiating almost anywhere, from the flea market to the board room. While we could keep the tips we’ve learned over the
What does your business use as a reference when you go to a client to collect on a debt that is owed? Many businesses can immediately produce invoices or itemized lists of services performed, but some small and mid-sized businesses that haven’t encountered any trouble collecting in the past might
Running your business does not just mean hiring new employees and working hard to attract and retain customers. It also means doing what you need to do to stay financially afloat. While it is not usually any business owner’s favorite part of the job, collecting outstanding invoices and payments is
Even if you do an excellent job pre-screening your customers, there will inevitably be incidents where some will fall behind with their payments. Dealing with delinquent customers is critical to the financial health of your business, and you should always be prepared to act quickly to ensure prompt payment. It’s
Your business, whether small or mid-sized, relies on invoice payment to pay your employees, keep the lights on and pay for the supplies that you need to do business. Unfortunately, all of the clients you invoice do not always respect or recognize that fact. One of the trickiest things for
When companies operate in a business to business or B2B space, it can be difficult to decide whether or not to charge late fees. You don’t want to risk upsetting a loyal client or charging them for an invoice that got lost in the mail. However, every day that you
Goal setting is a critical skill for every department of your business. Without a defined set of standards and goals that you want to achieve, how can you come up with a roadmap to get you there? Goal-setting for your AR department is no different from planning done in other
While you might not typically think of your accounts receivable department as remotely related to your customer service department, the two should serve as extensions of each other and build goodwill with your customers. Viewing your accounts receivable department or customer service department in a vacuum is a big mistake,
Millennials are growing up, and their debt is growing alongside them. Numerous studies have shown that many millennials are in precarious financial situations that can increase the odds they will face collections at some point in the future. Almost 2/3 of millennials are living paycheck to paycheck, and they face
Data breaches are happening all the time, even at high-profile companies like Equifax and Capital One. Your customers entrust you with their personal information, including credit card numbers, addresses and more. Are you doing enough to safeguard your customers’ personal information? The Impact of Data Breaches From the time that