Here Is How Partnering with Us Is Good for Your Financial Health
Categorised in: Our Blog
With the state of debt in the country, it’s not uncommon for businesses to seek the services of a consumer or commercial debt collection agency. If you’re looking for one, then partner with a company that offers more than just debt collection. Partner with a company like Summit A*R that takes care of your company in more ways than one.
#1 We’re Affordable
Depending on the age, type, or balance of debt, or base rates are usually 7.5% and can go up to 50% if it’s a challenging debt. Compare this to other companies with much higher base rates. Not only do they have higher costs, but they’re more likely to accept only your least challenging accounts.
#2 We Serve Most Businesses
When seeking to recover debt, most small businesses assume that they’re out of luck because debt collection agencies won’t work with them. At Summit A*R, no business is too large or too small to partner with a collection company like ours. We’ll serve sole proprietors like freelancer writers or landscapers, small sized businesses such as landlords or cellular dealers, medium-sized businesses such as health care providers, and large-sized businesses such as corporations.
#3 We Don’t Have Mandatory Minimums
Many small businesses get turned down by debt collection agencies because they can’t guarantee a certain number of accounts on a monthly or annual basis. At Summit A*R we don’t make such demands. We can work with your business whether you have one or many accounts for us to recover. As a small business, even if you have one debtor, you deserve to recover your revenue just like any other business.
#4 We Don’t Demand Payment Upfront
Certain agencies may demand payment upfront before beginning a relationship. Then, they may prioritize easier accounts and ignore your more challenging ones. At Summit A*R we don’t demand any payment upfront to work with you. This way, you know you aren’t throwing good money after bad.
We only get paid when we recover your revenue. As you can imagine, this creates an extra incentive for us to get the job done right. Call or email us now to discuss how we can provide the best solutions to some or all your delinquent receivable needs.
#5 We’re Transparent
There are no surprises when you use the consumer or business debt collection services at Summit A*R. We have an A+ rating at the Better Business Bureau (BBB), are members in good standing of the International Association of Commercial Collectors (IACC) and the Association for Credit & Collection Professionals (ACA International), have great reviews from our clients and their debtors and dozens of hand-written testimonials, because we offer transparency.
When you place an account with us, we try to get you paid as soon as possible. We start with our campaign of phone calls and emails. Debtors often clear their dues when they realize that an effective agency like Summit A*R is involved in the process. Sometimes, we successfully recover revenue in a few days, though other accounts can take longer. Our goal is to get you paid within 90 days.
Once your payment has been recovered, it’s immediately deposited into a state-regulated client trust account. The net amount owed to your business is sent to you on the 10th of the following month. We work with mutual trust. If a consumer pays you in direct response to our efforts, you must notify us immediately so that proper credit can be given to your customer. We will bill you directly for these fees.
Even the more stubborn accounts are cleared when consumers and businesses realize that we can report them to the three major credit bureaus. Consumers and businesses value their credit reports because this can affect their ability to conduct financial transactions.
#6 We Offer Multiple Financial Calculators
There are multiple financial calculators that you can use on our website to improve your financial health.
- Day Sales Outstanding Calculator: Day Sales Outstanding is a measurement of how long it takes for you to collect your accounts receivable. By using this tool, you can get a better picture of the effectiveness of your credit and collection policy’s effectiveness.
- Accounts Receivable Turnover Calculator: You can use this important tool to check how quickly your invoices turn into actual money. The A/R turnover is calculated by dividing your total credit sales by the average of your accounts receivable. Ideally, the result should be between 40 and 45. If it’s over 50, then you could be heading towards a cash crunch.
- Accounts Receivable Aging Calculator: You can use this useful tool to check your company’s percentage of seriously delinquent receivables. The calculator takes the dollar value of all your outstanding receivables and divides them by the total value of all the accounts in question.
- Days of Inventory on Hand Calculator: By using this calculator, you can determine the percentage of seriously delinquent receivables.It takesthe dollar value of all your outstanding receivables and divides them by the total value of all the accounts in question. It’s a useful tool because it can help you determine how quickly your accounts are being monetized.
#7 We’re Highly Effective
At Summit A*R, we’re proud of our “P.H.D. Philosophy” (Preserve Human Dignity). We bring humanity back to debt collection by treating people with dignity and respect. By behaving with professionalism and integrity, we also preserve your company’s reputation. When we treat accounts with sensitivity and compassion, customers and vendors who are vital to your business don’t feel alienated.
What’s more, we’re effective. Not only is it good for your karma to use an ethical agency like ours, but it’s good for your bottom line. Shady tactics just don’t work. They only make debt harder to recover. Our recovery rate is twice the national average because of our methods.
However, we take all accounts very seriously and take a stern but friendly approach. We also have powerful skip tracing and litigation departments. We find that almost no debt collection is too difficult to try to recover because we have every tool in the book. Over the years, we have recovered some particularly challenging accounts.
So, pick up the phone and give us a call today. You can also send us an email or request a callback through our website. With our expertise, you can improve your A/R turnover. At Summit A*R, we’re good for your financial health in more ways than one!