Your small business accounts receivable and debt collection solutions...

Small business often faces big problems when it comes to accounts receivable and debt collections issues. Most of my articles are directed toward educating you on how to do things yourselves, and a little bit about how we can help you beyond that. 


Excuse me if this article is a bit self promoting, but what we offer to small businesses, professional service firms and freelancers is so unique and hard to find that if I don't toot our horn once in a while too many hard working businesses will lose money to difficult clients.



Here are some of the common problems you're facing, followed by the solutions (that's where we come in).  


If you're having one of these problems, match it up to its solution in the list below:


1.)  Accounting functions aren't your specialty.  Especially when it comes to asking for money.



2.)  You cannot afford experienced staff to do the tasks.  You don't have the square footage, payroll space, and don't want the cost and risk involved with bad hires.



3.)  Debt Collection agencies won't help you because you don't have hundreds of accounts to place, or your balances aren't sufficient.



4.)  You don't want to deal with the extra time and hassle of dealing with a debt collector company where you have to talk to a salesperson and don't know who is actually collecting your accounts and dealing with your customers.



5.)  You think that having a "collection agency" call your customers will hurt your relationships or reputation.



6.)  You're writing off costly losses at the end of each year and losing hard earned profit that you could be using to grow or simply sustain your business.



7.)   Your dealing with anger and stress over large balances that a client or clients owe you but you just don't know where to turn.



8.)  You think that getting a lawyer to litigate, or going to small claims court, will help your chances of recovery.






The solutions and how we can help you in an easy and cost effective way;



1.)  We know the best practices for accounting and back office procedures.  Having been in between hundreds of companies in dozens of industries, we've seen it all and know what works best for your specific type and size of business.   We are also well versed in accounts receivable and collections.  


We know how to speed up receivables and get you a cash infusion from your more delinquent and difficult customers.  We'll maximize every available dollar that's humanly possible to get into your bank account as soon as possible!



2.)  When Cambridge Receivable Solutions is your trusted accounts receivable and collection department, we represent you with expert level experience.  The person representing your business is professional, intelligent, and works with only your overall best interests in mind.  Our debt collection services are No Recovery = No Fee.  That means FREE if you don't get paid.  No more money out of your pocket.  


We'll get ourselves paid out of the recoveries at a rate that makes sense to your bottom line.  Our other services such as collection letter services and consulting offer easy to notice return on investment.  Either way the knowledge we pass along while working your accounts will pay dividends for as long as you do business.  



3.)  We accept single placement accounts because we care about small business. While we specialize in large balance claims we do accepts some minimum balances of $800.00 and there are some cases we won't accept, but we'll do everything possible to make sure you get the best information and solutions.  We want to help as many good businesses as possible get paid!  We take that seriously.



4.)  When you deal with us you are dealing with a small professional service provider. That's right we are a small business too.  We aren't a giant call center.  We are customized to help your business.  You'll deal directly with your personal cash flow consultant who will advise you on all aspects of your business AND be the one who deals with your customers!  This is the only way for small and professional businesses to go when it comes to debt collections.



5.)  The term debt collector or collection agencies comes with negative connotations thanks to the scores of low experience collection personnel employed by large corporations and predatory lenders.  Don't let that cost you money. I have created a professional option for small businesses to maximize their profits, keep their reputations and relationships in tact; all while making sure you're not going to go out of business due to losing hard earned money that you should have already.  


You can trust us to represent you strictly professionally and within the law.  We don't add to your headaches, we remove them!



6.)  The money that you "don't have time to deal with" or write off every year because you "don't think they'll ever pay" is the same type of truckloads of cash that we recover for your competitors.  This is such a misunderstood area of business.  It's no wonder that it puts so many new or small businesses OUT of business.  Let us put the money you deserve right where it should be, in your account.  All while you continue doing what YOU specialize in and getting more paying customers.



7.)  Too many small businesses have accounts receivable and debt collection issue skeletons in their closet.  Many times the business owner feels they did something wrong.  The past due client has a way of manipulating and stalling businesses into just never following up.  We know the way they operate.  We know how to get you what you rightfully earned, and show you how to strengthen your processes so you minimize coming across these difficult types as much as possible.  


The stress, anger and confusion can be bad for your health and your business. Offload this small percentage to us.  Dealing with them is our specialty.  That's how we add real value to your business.  It's not glamorous but someone has to do it.  We take pride in getting the good guys paid, the right way!



8.)  We are successful in recovering past due debts more often than winning a judgment in court is.  Not to mention it's costly, time consuming, very risky, and also is not even a viable option 98% of the time.  Let us orchestrate a pre-legal attempt.  If that doesn't work, and we think there is money to be had.  We'll let you know your next best option.  That shows good faith on your part!



So long story short, get to know our services.  No one has ever had less for having us as their secret cash flow weapon.


I'd love to have a no pressure, casual conversation about recovering your past due balances, strengthening your contracts, and making sure you have the fastest possible access to your earned income in the future.  




Author's contact information:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
or 
Toll Free: 1-888-908-3905  x 101
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 















 
 

A perfect collection agency for small business? Yes please!

When it comes to accounts receivable problems and collection issues no one feels the pain like small businesses do.  While SBA.gov defines small businesses as those having less than $21.5 million dollars in annual receipts many of the small businesses that contact us for collection services are single person businesses that are simply striving to provide a single family's income. In fact approximately 70% of small businesses are owned and operated by a single person.  

These operations count on positive cash flow simply to survive.  They aren't backed by millions of dollars.  Only a third of them even use (or have access to) business credit.  Every dollar counts and you don't have the time, expertise, or resources to handle time consuming collections yourself. Don't get mad, frustrated, or let your business fall apart while you chase after non-payers.  You can win at this game.


"Only 50% of businesses survive the first 5 years and in 2009 a small business went bankrupt every 8 minutes."  
-Business insider



If your a small business and you want to stay in business or you are a freelancer and you don't want to prep your resume and return to a 9-5 you had better pay close attention to protecting yourself from losses.


Too often small businesses...

1.) don't do enough before the sale/engagement to qualify customers.


2.) don't have a contract stating the terms, or use a poorly worded agreement that lacks crucial clauses to protect themselves effectively.

3.) don't invoice properly and don't follow up quickly or often enough when invoices go cold.

4.) lack quality contact information and are unable to locate the debtor.

5.) write off losses simply because someone doesn't pay as they are supposed to.


6.)  waste time or company resources by chasing payments ineffectively.


7.)  feel as though somehow they themselves have done something wrong.


8.)  accept excuse after excuse until the owing party finally ceases communication.


9.)  waste time and money in small claims court only to realize they still won't get paid.


10.)  fail to get help from a professional early on in order to maximize debt recovery and focus their time on new/paying customers!



When your small business lacks the time and expertise to stay on top of your account receivable management and collections you need help.  Cambridge Receivable Solutions specializes in helping businesses like yours be able to minimize your losses in a cost effective way.  We share our extensive experience, tools, professionalism, and persistence with your business so you can maximize your profit risk free.


Here is a DETAILED MENU of the services we provide for all small business, professional services, and creative freelancer clients.  

Don't hesitate to e-mail or give me a good old fashioned phone call to discuss your past due invoices.  I have an open door policy and love talking to people about my area of expertise which is getting the good guys paid!!  I'll do what I can for you regardless of it you need us this time or not.

Have a look at our services page for more info.



Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
New Clients: 636-487-0986
or 
Toll Free: 1-888-908-3905 
jlindsey@c-rsolutions.com
info@c-rsolutions.com

www.c-rsolutions.com 


If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin

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Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc












 
 

             This article relates to freelancers, small to medium size businesses, and professional service firms. 

Today I want to talk about the main myth with regards to debt collection agency contingency (no fee if no recovery) rates, along with what we are doing to ensure value to our clients.
 

    The myth:  "Collection agencies typically charge 30-50% fee on recoveries"
        

                                                 Who perpetuates this myth, and why?

-Collection Attorneys.  Collection attorneys help in spreading this myth in order to warm you up for their costly fee structure.  Legal action will take up more of your time and resources than the more logical third party collection intervention.  A solid pre-legal, collection attempt will, more often than not, increase your return.  If the effort is unsuccessful, you pay nothing, and legal action is always available as a last ditch effort.  In fact, having attempted an amicable pre-legal solution will strengthen your case if it must go there.  Tapping into decades of experience, we'll be the first to point you in that direction if that's what it will take. 

-The uninformed.  This is to include authors and bloggers who are simply regurgitating dated untruths they got from other unreliable sources, in the name of content, which has watered down the little known reality of debt collections.  The spreading of this misinformation is hurting your bottom line.  The crucial and necessary profit maximization, through specialized A/R management and collections, is a highly misunderstood and underutilized business function for businesses of all sizes and industries.

                                                        The Truth

To say this myth is an incorrect, dated, and an overly broad assumption, would be an understatement.  The fact is your cost will largely be a direct reflection of how you have handled the invoices to date.  If your waiting until your invoices are over a year old, then you may be in the neighborhood of 30%, for good reason.  Already have judgements? Then they will be in the 40% range.  Again, for good reason.  80% of judgements go unpaid and can require extensive expenses to attempt to recover.  The majority of placements that need a collection intervention won't fall in those high fee categories.  A proper collection strategy through a firm like ours will never leave you with less than you would have without us. 

The main factors at play with our rates are in your hands.  Most   agencies base their rates on the amount of time and resources they will   require to be cost effective for BOTH parties, obviously.  The amount  of  time it will take us to turn your coal into diamonds is what decides   your rates. Average age, average  balance, and volume of accounts are  the key factors that will decide  your fee structure.  Help us help you by getting us involved early and  often.

                                                                              Facts
-Having a specialist involved to ensure your cash flow management is structured appropriately throughout the entire cycle is a crucial first step. 

-Knowing when, and why, to allow professional help to proactively address problem invoices as they pop up, will always ensure you have more than you would without their assistance.


-DRUM ROLL~~~~~ Rates for top notch collection assistance are primarily BELOW 30%, in many cases as low as 10%.  If your agency can't show you why their rates make sense to your bottom line, call us, we can!  If we can't, then we'll make some suggestions and point you in the right direction.  If our relationship won't MAKE you money, we don't want to waste either of our time.  Taking on clients for whom we won't be an asset would be completely counter productive for us.


                       How do we specifically ensure value for our clients? 

-We are a highly experienced and specialized partner for the industries we serve.

-Our unique set up was built and customized to ensure you more time and money to invest in the business you're in. 

-A full service, consultative approach, ensures that you capitalize on our knowledge and experience at every stage of the process.

-Our more cost effective rate structure, and low overhead, ensures our clients top quality service and results. 

-While there are some bad collection agencies out there,  Cambridge Receivable Solutions is the answer to changing economic times.  We are providing innovation to the typical archaic recovery model.

   
                                                       Click   >HERE<   for more information
             
Get to know us better by having a quick look at our home, about, and services pages.  Please contact us with questions or for a free, confidential consultation on how we can help you.....at rates that you can be excited about.


Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 




If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....

 
Join my personal network by connecting with me on Linkedin;
http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin:   http://www.linkedin.com/company/cambridge-receivable-solutions-llc




 
 
Collections
Time is money...why wait?
Maximizing your profits, and access to earned income, should be a top priority all year. Don't forget the obvious; getting paid is how you stay in business. Time is money, and we are here to get you more of both. 

Top reasons to address your past due accounts now, as opposed to year end:
(In no particular order)

1.) Waiting until the fourth quarter, or (cringe) December, sends a message that you don't expect timely payment. 

2.)  Your clients financial standing may deteriorate over time. 

3.)  You have less leverage over the clients the longer you wait, especially if services are completed.

4.)  Clients will forget how well you worked for them, or how important the product or service you provided was. 

5.)  You don't want to have to "make deals" to get the money in before year end.  By doing so they may expect lower rates next time.

6.)  Other creditors likely started earlier and are already in line for payment, get the jump on all available funds as soon as possible.  Don't get moved to the back of the line!

7.)  Statistics show that troublesome invoices become less collectable with every passing month.  See the Collectibility chart below, keep in mind it will vary by industry, economic conditions, etc. but it gives you an idea (visually) how time IS money.

8.)  You should be thanking your clients at year end, not pushing for payment and making compromises.

I could go on for days, but you get the point. Contact us today to capitolize on top-tier assistance and experience, at below average rates.  Our small firm, consultative approach, affords you terrific client service and results.  Let us know if you have any questions in regards to your active receivables, or more severely past due collection accounts.  We look forward to speaking to you about your needs, call anytime or use our quick consultation form for your convenience. 

Thanks for your time!

Contact the Author:

Jason Lindsey
President & Principal Consultant
Cambridge Receivable Solutions, LLC
Direct: 636-238-3843
Toll Free: 1-888-908-3905 Ext.101
jlindsey@c-rsolutions.com

www.c-rsolutions.com 



If you liked this article, help me share it with others who could benefit from it.  Share it on Twitter, click the like on facebook icon below, or....
 
Join my personal network by connecting with me on Linkedin;
http://www.linkedin.com/pub/jason-lindsey/44/567/165/

Follow CRS on twitter:  https://twitter.com/getpaidfaster

Follow CRS on Linkedin: http://www.linkedin.com/company/cambridge-receivable-solutions-llc

 
 
If you are an organization such as an Architectural or Engineering firm, Accountant/CPA, Law Firm, etc., we want to let you know that you have a professional option when it comes to collecting past due invoices.  We are a small, specialized firm, with extensive experience helping resolve these sensitive matters proactively for organizations like yours. 

Our highly skilled consultants orchestrate a forensic, fact based, collection method that allows you to take advantage of our top level resources and experience.  We perform all the due diligence in regards to researching the subject and their assets/financial position, your industry trends, and then implement a customized collection process. 

We begin by gathering and reviewing all the pertinent information and correspondence of each case placed with us. Utilizing a professional letter series along with phone calls and e-mails, we make contact to assure that we get to the route of the problem, and get you as much as possible as soon as possible.

Our consultative approach allows you to take advantage of our experience in recovering bad debt, maximizing profits, and speeding up access to earned income.  We will work with you to ensure a cash windfall from your current bad debt portfolio, and also strengthen your future invoices to ensure less troubled accounts going forward. 

Keeping your reputation and relationships in tact is what sets us apart from the typical collection agencies.  Our diplomatic approach is more effective and takes care not to alienate your clients in the process.  We not only make handling your bad debt easier, but also more effective.  Saving your staff time and headache, while ensuring the highest recovery rate possible, is what we specialize in.

These services are done on a contingency basis.  If we accept your claims there is no fee unless a recovery is made.  It's that simple.  Don't wait until year end to address these losses.  The involvement of a professional third party will make all the difference.  We look forward to getting to know your company and helping to ensure you have the best year possible. Contact us today to discuss your organizations recovery needs, and any questions you may have.  Thank you for your time.


J. Lindsey
President and Principal Consultant
Cambridge Receivable Solutions, LLC
jlindsey@c-rsolutions.com


 
 
We are always eager to find cost effective ways for you to benefit from our knowledge and experience with A/R and Collections.  We offer a quick consultation service by phone for a small hourly fee (1 hour minimum). We will orchestrate a quick audit of your Order to Cash procedures and make suggestions on areas that could benefit from improvement, leaving you with a full report of our recommendations.

You can also take advantage of  full on-site consultations to ensure proper training and
cash flow maximization for your organization.  Rates are per day + transportation to and from your establishment.  This is a valuable opportunity for small to mid-sized companies that will pay dividends for years to come. Inquire by phone by calling our Client Services Department at 636-487-0986 or through the
CONTACT page for more details and pricing information.

Or click HERE for rates and details.