The title might sound counterproductive for your small family business, right? Well, that’s not the case if you know well the reasons why shouldn’t you proceed with such tasks by yourself. Of course, collecting the debt those bad payers have in your accounts is indeed necessary. But have you considered hiring a outsourced credit control company? If not, maybe it’s the time to start considering them, because they come with more advantages than you might guess. Take, your reputation for instance, your time and money. Are these good enough reasons for hiring such services? If the answer is yes, continue reading below, because we have extensive explanations for these.
1. Maintain a professional reputation and a great relationship with your collaborators
When you decide to pick up that phone and start calling your collaborators that may or may not forgot to pay the debts they have in your accounts, there is no turning point. No turning point from a ruined reputation, no matter how rightful your actions are. Fact is, this kind of approach will leave a bad taste in your collaborator’s mouths because they are used to externalise these departments. By calling directly to their specialised department, or worst, to the manager, you will create the appearance of an unprofessional, greedy small business owner. This is not ideal. Ideally, you would externalise this department as well, and let the professionals deal with your bad debtors. They have a polite and skilled approach that will turn out to be more efficient than your endless attempts to recover your money.
2. Save your precious time
When you decide to manage this task alone, you lose important time resources that could be used in a more productive way. The fact that you spend time only for giving calls and trying to convince your collaborators that maybe is time to pay their debts will turn in a time consuming, complex and unfulfilling job. A job that will cut from the productivity levels requested by a managing position. Rethink your approach and hire professional debt recovery services just to save your precious time.
3. Save your precious money
Now that we established that chasing bad debtors all by yourself is quite unprofessional and time consuming, you might be thinking, “Why not create my own dedicated department?” But, once again, we have a better idea and a good enough reason for not doing so. Creating a specialised department will swallow quite some money. Not only will you have to pay the employee’s wages, but also their social services and medical insurance expenses that come with hiring new staff. If you are searching for a more efficient and less-damaging idea, you could outsource these tasks to a specialised agency. Most of them do not even emit any fees if they fail to recover their client’s debts, which comes as a great advantage in your particular case. Being the owner of a small family-run business requires for a well-planned approach on finances.