Of all the modern tech companies that appreciate a streamlined business model, perhaps none feel it more keenly than Software as a Service (SaaS) businesses. SaaS companies understand the need to create a wonderful product that meets consumer needs, then sit back and collect payments for granting people access.

The idea is that they do the main legwork upfront, and they should be able to devote their attention and focus to moving forward rather than looking backwards to collect payments that should already be there. This desire to keep moving ahead is common in business, but the need for SaaS companies to keep moving ahead is embedded in their business model, work culture, and DNA.

Let’s check out a few ways that Summit Account Resolution gives SaaS companies the freedom to focus on what’s in front of them.

Better Collections, Sooner

SaaS companies and others in the tech space can’t afford to hesitate or move backwards because their industry moves so quickly. Instead, they need to adapt and stay ahead of rivals by offering a better value proposition on a slicker platform. The last thing they want to do is focus on the money that should already be in their accounts.

SaaS companies hire a consumer collection agency like Summit AR to take collections off their hands entirely because we do it sooner and more effectively. Unlike almost every collection agency in the US, we have our own in-house private investigator to lead our slip tracing department.

If a debtor or B2B partner is trying to avoid being found, they can locate them and their assets sooner, even if they relocate or change their company name. Their timely reporting to the major credit bureaus will change their calculations.

A lowered credit rating can make borrowing more difficult and expensive in the future, so it’s cheaper for them and more efficient to pay off the debt. When you know what legal levers to pull, there’s no need for shouting matches or ugly conversations between debtors and those they owe money to.

We’re proud to offer the services of a private investigator and all the reporting they do to the major credit bureaus at no extra cost to our customers. SaaS companies love having part of their operations tasked with collecting unpaid balances just as streamlined as everything else, helping to create a unified approach to all aspects of their business model.

Improved Business and Customer Relationships

Sometimes, tech companies trying to be seamless rely on cold, digital automation that doesn’t always leave a pleasant taste in people’s mouths. Shopping and interacting through screens represent an enormous technological leap, but e-commerce sometimes lacks the warmth that people felt when they knew a store’s proprietor and actually saw them face to face.

If there’s any time SaaS companies risk alienating customers and B2B partners, it’s when asking them for money. Nobody likes being told they need to make a payment, even if it’s a payment they agreed to make.

Summit AR takes our ethical debt collection tactics seriously, as our collection methods will never undermine your marketing efforts and the years it has taken to develop business relationships. Debt collection has a bad reputation in some quarters, sadly, sometimes, deservedly.

business meeting around a table

The industry is known for things like aggressive phone calls with harsh language, robocalls, and even late-night calls. Hollywood movies haven’t helped the public perception, but sometimes, real debt collectors resort to harsh methods that won’t only sour people on your business; they’re also less effective in collecting the debt.

Summit AR will never push people away. We view our job as trying to help both sides move forward by assisting debtors and always treating them with respect and dignity. Indeed, we have a “PHD philosophy,” which stands for Preserve Human Dignity.

No company wants to collect debt at the expense of driving away future customers and partners. Sometimes, people have understandable reasons for not paying debts — they may want to pay all or part of a debt but need a path forward.

Our job is to give them that path so they don’t resent the SaaS company for asking for the money and are happy to keep a relationship moving forward. The best SaaS collections don’t need to be underhanded, as we’re proud to recoup nearly double the industry average in the US without ever resorting to ugly tactics with which you wouldn’t want your company associated.

Basically, if there’s a collection tactic you wouldn’t feature in an advertisement or promotion of your business, we’d never do it. Our collection efforts will never be at the expense of your reputation, as that’s one of the most important qualities of an effective debt collector.

Consulting and More

While we can talk here in broad, general strokes about the SaaS business model, when you look closer under the hood, every company is unique. Each has its own corporate culture, and no two do things in exactly the same way.

Summit AR is happy to work with you to either inspect your in-house collections program and give a consultation to recommend improvements or take it over entirely. We can work with you in whatever capacity suits you best.

Sometimes, the best option is only clear after we get together and discuss it. Our seasoned account receivable management professionals have many insights about increasing cash flow while minimizing bad debt write-offs. Contact us today for ways to improve your internal SaaS collections.

Full-Service Litigation

Ideally, the bad get gets settled quickly and properly. However, some major debts are harder to recoup, and you may need a qualified attorney’s assistance. We can work with you to review the pros and cons and have our investigator determine whether the benefits of a legal proceeding outweigh the negatives.

We’ll only pursue legal action after getting your permission. If you decide against it, you’re free to leverage any of the information our investigator uncovered to help collect the debt.

Connect with Summit AR today if you’re an SaaS company looking to hire a consumer collection agency that can understand and adjust to your business model.