There is a common misconception that all debt collection agencies harass people. People assume that when you enlist the services of one to help you collect the money you are owed, you risk losing a valued customer.
A reputable collection agency that follows best practices has both you and your customer’s best interests in mind. Read on to learn why a collection agency, such as Kinum, Inc., is about more than just collecting bills.
Building a Connection
A crucial part of collecting past due receivables is to understand the source of the problem. Is this a recurring issue or an isolated event? Do you offer payment plans? Have your employees been well trained in customer relationship management and collection techniques and skills?
This is the first step an experienced and reputable collection agency takes. We first look at your internal processes and then reach out to the client to understand the reasoning for not paying. In our case, Kinum, Inc. uses our proprietary debt management software to make the process simple and easy to understand.
What’s The Point?
Now you may be saying to yourself, “What’s the point? I just want to collect what I am owed!” While that line of thinking is entirely understandable, it’s important to keep in mind that a collection agency shares that same goal. Our main goal is to help you collect on the debt you are owed, but we also try to preserve your relationship with your customer, as well as help prevent the issue from occurring in the future.
Preserving Your Relationship With The Customer
It’s important to have a general understanding of the reason for your past-due receivables. For example, consider this possible scenario:
A long-time dental patient of yours has recently fallen on hard times. After their dental surgery, they were unexpectedly laid off from their company. Struggling to find another job, their payments to your practice for their surgery are pushed to the bottom of their list of priorities. Numerous calls to your valued client have resulted in little success collecting on your debt.
How you proceed in this situation is crucial. Presumably, you don’t want to lose a valued customer, but one poor experience with your untrained staff attempting to collect on past due payments can result in just that.
Relying on an experienced collection agency can help you collect on your receivables and keep your customer at the same time. Through carefully timed and thoughtfully crafted messages and phone calls, our team will work with your client, helping them pay, and helping you get paid.
Part of building a connection with your customer is ensuring that the problem doesn’t happen again. As mentioned above, how you proceed in your collections process can determine if the problem persists, if you lose your valued customer, or you resolve the issue, get paid, and keep your customer.
Customers want to pay their debts, however, sometimes, life gets in the way, and they can’t. Opening the line of communication and setting tried and true processes in place to handle your collection efforts can help ensure that this problem remains an isolated incident. An innovative and trusted collection agency, like Kinum, Inc., can help set these processes in place.