The March 2012 RxTi Webinar Series
Tracking your receivables, staying on top of late-paying clients, and establishing and communicating collection practices
About: RxTi (producers of the Site Solutions Summit) present the next webinar in the Good Business Practices (GBP) series. The first step in reducing late-paying customers is to establish, communicate, and agree on your payment schedule. Take control of your balance sheet, and help improve your collections efforts with a thought-out plan and improved billing communication.
Invite: Your colleagues - registration fees are the same for individuals or entire team participation at the the same location
Tracking your receivables, staying on top of late-paying clients, and establishing and communicating collection practices.
March 13 (12pm EST)
Speaker: Robert Holt, President, Baltimore Credit and Collection Services, Inc.
Learning Objectives:
* Why cash flow is important, and why everything is different in drug trials
* How to set up an Accounts Receivable/Customer Service department
* How to use CRM software to handle and track everything
* How to keep cash moving through your site
LEARN MORE AND REGISTER HERE
SUBSCRIBE: Search RxTi’s upcoming webinar topics, and gain access to both live and archived GBP and GCP webinars. SUBSCRIBE HERE
Contact: Anna Pens at anna.pens@rxti.net or 410-465-2455 x 107.
Follow RxTi @RxTiNOW
Tuesday, February 28, 2012
Wednesday, February 22, 2012
BCCS Webinar
News
BCCS President Robert Holt to Make Webinar Presentation
February 1, 2012
As part of the RxTi Webinar Series – Good Business Practices – BCCS President Robert Holt will present “Tracking Your Receivables, Staying On Top Of Late-Paying Clients And Establishing And Communicating Collection Practices” on March 13, 2012 at Noon. Learn more
New Website!
Check out the new look of bccs2.com. Updated functionality & services to serve you better. How can we help you get "more of the money you've earned" today?
Tuesday, February 21, 2012
Thursday, October 7, 2010
When should we send an account for collection?
We get this is a question a lot. Every company must balance the likelihood of collection internally vs reduced profits of sending the account to a third party collection agency. You don't want to send it too early, because you'd rather get the entire amount and you should be able to collect it yourself. However, you don't want to wait too long, as the chance of collection, even with an outside agency, diminishes over time. Sometimes by a lot. The balance is not just full invoice vs reduced profit. You have to factor in the third scenario: no collection at all.
The Commercial Collection Agency Association of the Commercial Law League of America published a study in 2004 (before the recent crash - it's probably worse now) on the Collectability of Delinquent Commercial Debts At Time Intervals After The Due Date. If you wait six months, the chances of collection are only about 50%. A year: around 20%.
We always suggest that you submit accounts when they hit 90-120 days form invoice date. Most of our clients shoot for this. In some cases, even sooner (disputes, reports of debtor financial problems, etc.). If you wait much longer, you severely reduce the likelihood of collection. Can your company afford to wait?
The Commercial Collection Agency Association of the Commercial Law League of America published a study in 2004 (before the recent crash - it's probably worse now) on the Collectability of Delinquent Commercial Debts At Time Intervals After The Due Date. If you wait six months, the chances of collection are only about 50%. A year: around 20%.
We always suggest that you submit accounts when they hit 90-120 days form invoice date. Most of our clients shoot for this. In some cases, even sooner (disputes, reports of debtor financial problems, etc.). If you wait much longer, you severely reduce the likelihood of collection. Can your company afford to wait?
Monday, September 20, 2010
Special Offer For Friends of Baltimore Credit & Collection!
Special Offer For Friends of Baltimore Credit & Collection!
Hi,
A friend of mine in the credit and collection world, the publisher of Credit Today, recently set up a new website specifically for those engaged in collections.
At first, I wondered, “why another site?” But they’ve given me the run of the site and I can tell you, it’s a great resource!
Full disclosure: They’re using some material written by me. But that’s not the only reason I think it’s worth bringing to your attention. For those in collections, it’s the most comprehensive and useful site out there.
And they’re adding new resources daily.
They’ve also made a very generous offer to all Baltimore Credit & Collection Services clients – a free two-month trial, with no obligations or “strings attached” whatsoever.
If you’d like to check it out, I encourage you to take advantage of their offer:
Special Offer For Friends of Baltimore Credit & Collection!
http://www.collectionforum.com/public/28.cfm
Let me know what you think!
Regards, Robert
Friday, July 30, 2010
Why use a Professional Business Debt Collection Agency?
You're not getting paid. Some of your customers just don't have good cash flow. They have a fixed pile of money to pay creditors, and if you're not the bank or power company or landlord, you end up being grouped in the "later" category. If your not an urgent supplier, you get moved to the "much later" category.
But why should you wait? You're not the bank, but you're being asked by your debtor to act like a bank and in essence provide a short-term loan to them. You don't want to treat your own suppliers like your debtor is treating you, do you? You've established credit for your company, and yet your customer is jeopardizing your credit rating because they won't pay you.
This is where the professional Business Debt Collection Agency steps in. We know how this system operates, and we know the games that debtors play. A letter from a Collection Agency carries a lot more weight than one from the creditor. Plus, we send it via US Mail, fax and e-mail, so they get hit from multiple directions at once.
We report their credit as needed. If they're concerned about their own company credit report, they will pay the agency that reports, first, to keep their name clear.
Lastly, we have a network of Commercial Collection Attorneys. Not just Nationwide, but throughout the world. If we're still not successful, but it still might be collectible, we can put an attorney who specializes in collecting commercial debt right in the debtors back yard. It shows you mean business, and that you're not letting this debt go away.
Contact us for more details.
Robert Holt, rholt@bccs2.com
President, BCCS
"We help you get more of the money you've earned"
But why should you wait? You're not the bank, but you're being asked by your debtor to act like a bank and in essence provide a short-term loan to them. You don't want to treat your own suppliers like your debtor is treating you, do you? You've established credit for your company, and yet your customer is jeopardizing your credit rating because they won't pay you.
This is where the professional Business Debt Collection Agency steps in. We know how this system operates, and we know the games that debtors play. A letter from a Collection Agency carries a lot more weight than one from the creditor. Plus, we send it via US Mail, fax and e-mail, so they get hit from multiple directions at once.
We report their credit as needed. If they're concerned about their own company credit report, they will pay the agency that reports, first, to keep their name clear.
Lastly, we have a network of Commercial Collection Attorneys. Not just Nationwide, but throughout the world. If we're still not successful, but it still might be collectible, we can put an attorney who specializes in collecting commercial debt right in the debtors back yard. It shows you mean business, and that you're not letting this debt go away.
Contact us for more details.
Robert Holt, rholt@bccs2.com
President, BCCS
"We help you get more of the money you've earned"
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