Almost every business, no matter how small or large will ultimately be faced with the issue of uncollected debts. This may possibly start small, with a few unpaid invoices here and there, but as your company grows over time the total account receivables could become a substantial amount. Ignored, this becomes a loss that can impact the bottom financial line of the enterprise. Keeping up with accounts receivables ensures the company runs smoothly and all services are paid.
Classic debt collection agencies work on a commission basis. This means, for each debt they collect, they take a percentage for their commission. The commission can be up to 50%. Since the debt collection agencies works on commission, they naturally work harder to collect the larger debts considering that it increases their pay, and the smaller debts are usually left stagnating. Debt collection becomes the lesser of two evils, writing off the entire debt as a loss, or collecting only a portion and claiming the rest as a loss.
Invoice Guard is a different type of debt collection agency. They work at a low, flat rate fee of $100 per month. Up to 4 accounts can be submitted per month. Given that the service is flat rate, all accounts are worked, no matter how little or significant. Organizations can now really feel comfortable submitting their debts to collections in a timely manner since they do not have to pay such a steep percentage of funds received. This helps make sure the debts are in fact collected, as the sooner the debtor is contacted, the greater the chance of payment. If your company needs more accounts collected than four per month, there is a low flat rate charge of $15 per additional account. Invoice Guard will request the debtors to make the check directly to the company for the quickest resolution of the debt.
An additional benefit of using Invoice Guard is that debtors who are slow to pay their invoices often will pay upon the 1st contact by a third-party debt collection agency such as Invoice Guard. Because Invoice Guard is contracted on a monthly basis, it is effortless to submit invoices prior to they get too old to collect. There is no downside to submitting unpaid invoices to Invoice Guard. The rate of recovery of a debt substantially drops off following 90 days, so it is best to send invoices prior to they age 90 days. Invoice Guard gives a simple online interface to submit orders for collections and check the status of debts in collections.
Invoice Guard can simplify almost any businesses collection activities, regardless of whether a modest organization or a larger enterprise. Any business has the right to be compensated for services supplied. Invoice Guard offers an innovative answer to the growing account receivables problem that plagues so numerous firms.
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