While many business owners struggle and literally get frustrated with their debtors, there are many who handle this very easily, just by following a few simple steps. We all know that running a business is a risk; and a major part of the risk is present because of the customers who simply fail to meet their payment deadline. So, what is the solution? Well first of all, stop panicking. And to know about the solutions, kindly keep on reading this article.
The solution is to plan everything tactfully, and taking help of professionals, a collection agency service, when your customers are too stubborn to make the payments. Take a look at the following points, to get an elaborate idea about the same.
Do not use illegal ways – In your efforts to collect the debts, do not commit the mistake of practicing abusive or unfair ways like:
Harassing the debtor or threaten him or her.
Using any kind of misleading statements.
Harassing the family members of the debtor, or giving the details of the incident to the employer of the debtor.
Calling or trying to communicate with him or her at odd hours of the day.
Voluntarily Payment – So, your main objective is to get your money back, right? So, why don’t you encourage the debtor to pay you on a voluntary basis? Well, trust me, this helps a lot. Try and work out a payment plan with your default payers, rather than threatening or harassing him or her.
Collection Agency – Last but not the least, hire a professional service i.e. commercial collection agency for this task.
You might get other options too such as:
Installing a software
Hiring a Lawyer
But, they are not really fruitful for the purpose. While installing a software might not be able to help you in a way like an agency would; hiring a lawyer can involve a lot of court dates and other legal procedures. A commercial collection agency would do the task, without such complications. And the best part about debt collection agencies is that, they accept payment on a contingency basis. They know the right strategies to get back the payments from customers. If a customer is missing, they will use the skip tracing method, for tracking him or her in the best ways possible. So, start your search for a reliable third-party firm now.
Be Organized: Last but not the least, be organized and document everything. If you hire an agency, they would do it for you. But, I still want you to be a little responsible, as it is your business. Try to do the following:
Keep records and a copy of everything.
Keep track of your expenses.
Make sure that you provide the agency with all the details.
So, now that you know how to get back the money on time, hopefully, you will find it a lot easier. If not, then keep on reading my articles to get some more tips on the same.
Author Bio: John Bing is associated with a topmost commercial collection agency and he is a regular blogger on collection agency service. To know more about debt collection agencies, read his articles.
John Bing is associated with a topmost commercial collection agency and he is a regular blogger on collection agency service. To know more about debt collection agencies, read his articles.
The Three Biggest Benefits of Business Process Automation – buckeye business products
Before delving into the advantages of Business Process Automation (BPA), let’s get to know what it is all about.
Well, to explain what BPA is, there are lots of definitions. Here I’m mentioning the Gartner’s views on BPA.
According to the Gartner, “The BPA is the automation of complex business processes and functions beyond conventional data manipulation and record-keeping activities, usually through the use of advanced technologies. It focuses on “run the business” as opposed to “count the business” types of automation efforts and often deals with event-driven, mission-critical, core processes.”
If I explain it more simply, it is a methodology of managing the data and procedures for reducing the costs, investments along with the resources. It is a tech-enabled automation of the services or the activities that fulfill a specific workflow or a function. It helps in increasing the productivity by just automating the key business procedures via computing technology. It can be determined for several sections of the organization activities such as operations, management, supply chain, sales, information technology (IT) and human resource.
Okay, this was a little intro of BPA and the things it is capable of doing.
Three Big Benefits of the Business Process Automation:
Well, every business is made up of processes. How do you get from point A to point B? Who does it go through? What departments does it hit? All these things that happen inside your company that you train somebody to do these are called business processes, which you might not realize, is that a lot of these can actually be automated. By moving them into the background, what allows you to do is to get better insight into your company.
I have higher quality control and increased efficiency. So, what I want to go through is the three big benefits of Business Process Automation.
The number one is QUALITY:
Because the process is being automated, humans are flawed. We make mistakes; we can only work on one thing at one time by moving that into the background that allows you to do is make sure that every single process inside your business, which you automate, meets your quality lab, basically your quality goals, every single time. That means your customers are happy because they’re getting a consistently excellent experience.
The number two is ANALYTICS:
Because the process is automated, it’s done in software. You can get valuable insight into, how your business runs potential bottlenecks? How long it takes? Test time, where are the inefficiencies that can be gained inside your company what it allows you to do is, have that data so then when you make those changes you can actually go back and compare it to find out if the improvement how much of an improvement was it what other gains can be made in there.
The third one is EFFICIENCY:
Because you’re taking a lot of these processes in here, a lot of these are mostly that we find when we help out clients with these, is, they’re just communication it’s moving documents and files and notifications from one person to the next. Because you can move that all into the background, what it does is it frees all of your employees to then focus on tasks that are more valuable and more profitable to the business.
I’m not spending their time notifying people and passing documents around and, copying three different departments for everything they do. All that happens in the background and, because it’s being done by software, it’s not being done one after another. A lot of these tasks can be done congruently so, copying people and notifying everyone of different tasks.
All these things can happen simultaneously and practically instantly in the background fleet freeing you and your employees to work on things that are more efficient more valuable for the company.
AND, IN THE END,
The three big benefits process automation of between Quality, Analytics and Efficiency are, your customers are happier, your employees are more efficient and yes, you get better insight into your business.
Ahh, there’s a lot to cover here, but right now I’d like to put a stop. If you want to get updated with what we’ve done in the past just visit our official blog. We’ll be happy to walk you through we’ve done for other companies and maybe see ways that we can work on helping you improve your Business Process & Automate a lot of this and, make your company more efficient more profitable at the same time.
A person with in-depth technical knowledge and expertise. The author has a rich experience in technical writing and is well-versed with the current trends of the respective arena.