Innovating Debt Recovery: How F100 Companies Benefit from Customized Collection Teams

When a company grows to the point it’s one of the leading businesses in the country, they usually have things pretty figured out. Their processes have succeeded enough to get them to where they are, at the top.

Yet one of the things that make Fortune-100 companies so dominant is their unending willingness to improve and refine their business model. If getting to the top is difficult, staying there is even harder, and the leading companies never stop fighting to retain and protect their position at the summit.

Innovation when it comes to debt recovery for businesses can be a game-changer for how it keeps companies looking forward instead of in the rearview mirror. Let’s take a closer look at how Summit AR can help F100 companies by offering customized collection teams.

Keep the Unique Approach

The seasoned account recovery professionals at Summit AR understand how to recoup debt, but nobody understands their own business like the people running it. Summit AR helps clients to reduce or even avoid delinquency and write-offs by offering consulting services to companies of all sizes in every industry.

Companies are free to retain any practice that reflects their personality or branding, but they can modify their in-house collections practices to improve cash flow and customer retention while reducing bad debt loss. When there’s a way to improve customer service and their finances, there’s no reason not to take up the advice of debt recovery experts.

We will work closely together to understand your operation and your identity so you can retain these things while improving your core debt collection practices.

Let Us Do It

Sometimes, a company’s approach to debt collection isn’t worth tweaking or modifying — a simple takeover is better. You can delegate any aspect of your debt collection operation to us or let us take on the entire thing.

Business leaders and executives may decide that it makes more sense to let seasoned debt recovery professionals take over this aspect of their business rather than try to force their HR personnel into becoming debt recovery professionals.

Reputations Intact

Debt recovery can be a two-sided sword. Naturally, you need to maximize the amount of debt you recover, but never at the expense of undermining your reputation or pushing people away from your business. Sometimes, when done badly, debt recovery has an ugly side that creates negative perceptions.

Hollywood movies sometimes make debt recovery seem particularly ugly, but in real life, debt collectors resort to underhanded tactics, such as shouting, aggressive language, threatening language, robocalls, late-night calls, and more.

Summit AR believes in Preserving Human Dignity, and that’s our PHD philosophy. Simply put, when we work on your behalf, we will reflect positively on your business by treating everybody involved with kindness and respect. Thankfully, not only is this more pleasant, we’ve found this also yields better results.

Getting money into your accounts is vital, but so is maintaining a good relationship with clients and B2B partners. If your messaging is harsh and punitive, it may alienate people you need to do business with later instead of building bridges. Even if you get the money back, it’s a bad result.

Summit AR can help F100 companies enjoy the best of both worlds by providing a major boost to their debt collections without ever undermining their reputation or branding efforts.

Streamlined Legal Assistance

When there are no debt collection methods left to try, the toughest cases may need to go to court. Thankfully, we have the same professional but unwavering approach here that we do everywhere else in the debt collection process. Here is how it works.

First, a licensed private investigator will run a thorough financial investigation on the person or entity in debt. If there’s a bankruptcy or insolvency, there may be further due diligence to perform to guide the way forward.

Going to court is a last resort, so it’s necessary to rule out every other approach before taking legal action. Only the most qualified cases with a probable recovery rate should require an attorney’s services. Such an option is not to be taken lightly. You won’t pay a cent if the case is deemed unlikely to yield a return, and we won’t move forward until we have your express permission in writing. Instead, the account will be returned to the queue for future collection efforts.

However, any information the investigator turned up can potentially be used later to help in these efforts, so the legal services may help your overall collections, even if you don’t end up going to court.

If all our due diligence determines going to court makes sense, and you agree in writing, our affiliated attorneys will file a lawsuit and resume the collection process until a successful resolution is achieved. It could be that the consumer or entity in debt may be held responsible for our fee, so F100 companies can keep the entire amount they’re due.

Training and Specializing

On a basic level, Summit AR has resources that even other debt collectors don’t have, never mind Fortune100 companies. We’re proud to be one of the only professional debt collectors in the US with a designated licensed private investigator in our skip tracing department. It’s very rare and it’s a game-changer.

Maybe that’s why we’ve recouped nearly double the industry average.

The debt collection challenges for large companies are numerous, and most F100 companies are designed for very different purposes. Whether they’re in technology, hospitality, communications, or whatever other sector, the innovations in F100 usually revolve around disrupting their industry. Companies can’t afford to let debts go by the wayside, but spending time, money, and energy here also diverts resources away from what leads businesses forward.

We have the experience and know-how to help businesses of all sizes, but to enjoy collection teams tailored for F100 companies, don’t hesitate to contact Summit AR today. You’ll have more money in your accounts with happier customers and business partners, too.