Its your cash, you made the product or delivered the service and its time to get paid…and the check is in the mail…must have been sent by camel as the mailman has come and gone for many days and no check…amazing how that happens so frequently. We have all been there.

Or worse…” its not in the mail and won’t be in the mail because we cannot pay it”. Not so, what they are really saying is paying your bill is less important then paying other bills so you go down the list of importance and are forgotten, after all you delivered what was needed and purchased so your importance has fallen dramatically. Sorry that’s the way it is when trying to collect on a promise to pay.

Of course we all know about the bill collectors and the collection agencies. The terribly annoying calls we have all heard at one time or another, who we all believe are more annoying then effective and which work on the concept that if they make enough calls and are annoying enough someone will pay attention and pay just to get rid of this incredible bother…and it works… sometimes.

What about slow payers, commercial accounts in business to business situations who will eventually pay but the bureaucracy is so deep that getting a check out of them sometimes requires an act of congress, or so it seems.  With these types of collections, annoying them will not work at all, but it seems that this is the major tool that collection agencies employ.

Their results, on an industry level are fairly dismal, collecting approximately 10-15% of their receivables they are working on. Sometimes an agency will do better maybe 20-30% but that’s pretty much the best they will achieve and only on occasion.

Rather then focus on what I will call “quality collecting”,  more methodical, more organized, willing to work with the account, less annoying and more practical and professional and more likely to succeed they tend to simply dial for dollars making as many annoying calls per hour as possible knowing that at the end of the day they will have cajoled enough cash out of the receivable list they are working to rationalize their paycheck and the contract with the account.

There is a better way, a much better approach from a company with a terrific strategy that is delivering upwards of 70% RECAPTURE  and tends to build relationships not destroy them in the process.

Jarid Schultz, owner of International Recovery Systems Inc.  a division of First Merchants Trust out of Ft.Lauderdale, Florida, puts it this way,” We collect a very high percent of the receivables we are pursuing for a few very good reasons, WE COLLECT INTELLIGENTLY, RESPECTFULLY AND PROFESSIONALLY…and this works amazingly well. Having been in the business for twenty five years, we have long ago learned that annoying the customers is not a viable business strategy. Preparation, follow through and commitment works.” says Schultz.

“This is how we do it, its no secret, everyone knows this works, but few if any collection agencies that I know practice this, other then us. They are all too busy dialing for dollars collecting by annoyance, not a good  business practice not very successful for the client but the way other do it.” Shultz says.

1. We prepare ourselves meticulously having a total and complete history and paperflow from order to delivery as well as a history of the account, in advance of our first call, so we know what we are talking about and have a complete understanding of the account and customer. This typically eliminates a significant percentage of late payers as more often then not there is a technical reason payment was not issued on time. We clear that up quickly, efficiently and not abrasively. We even work hard to get and pronounce the names of the people we are talking to correctly.

2. After a respectful discussion with an attempt to resolve it amicably, if necessary we are closely affiliated with a law firm that will immediately step in and begin the legal process. This  results in more collection success.

3. If all fails we sue and collect the old fashioned way, in court…and this works also.

“In the end our collection rate is an unbelievable 70%. and that’s a homerun for our clients.” says Schultz smiling wryly. Few believe it, know one else in the industry that we know of is as successful and we are very proud of our success. Our clients are also.” says Schultz

If you are in need of collection service, call International Recovery Services Inc. ask for Jared, tell him I sent you and hire his company  immediately, you will never worry about your accounts receivable collection again.

1-800-868-9298

We can all take a lesson from Mr. Schultz, he has demonstrated that a better job can always capture a share of market even in a highly competitive industry if we employ the tried and true methods of good business development.

Thus includes a well thought out business plan identifying the target market, understanding the competition and implementing more effectively then the others, defining a strategy that will delver the desired results with a clearly defined process, and an effectively implemented system.

Schultz has not reinvented the industry, nor has he done anything particularly new. He has simply applied high standards to a well defined plan and is reaping huge benefits for his company and his clients.

In a very competitive industry International Recovery Services Inc. stands out like a beacon, because Schultz understands the science of doing business and delivers valuable service to his clients.

You can too, it matters little what the service or widget you are marketing may be, follow this model.

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