Commercial collections is a process that occurs when an account used by a business goes unpaid and the service or goods provider takes certain steps to attempt to collect on the money that is owed to them. As many business owners can attest, this is often not a simple...
Many businesses begin the commercial collections process in-house (read more on that here). While this can seemingly be a cost-effective way to recover past due accounts, there are some accounts that are harder to collect on. So the big question is: When should you...
As many businesses can attest, the commercial collections process often starts with making a phone call. Usually, businesses will begin by placing the collections calls on their own. This process, known as first-party collections, can be difficult for employees with...
The business world would be close to perfect if accounts never went past due. Unfortunately, it is a tough reality that almost every business that provides goods or services for other businesses will eventually face unpaid accounts. Why should businesses care about...
When it comes to commercial collections, there's one main rule that you should follow. And that rule is to do it now (or, as the famous slogan goes: Just Do It!). In other words, don't wait to collect on past due accounts. Here's why. Older Accounts Are Harder to...
With the business environment's continuous and improved use of technology to save time and money, you may be wondering whether you should use debt collection software for your commercial collections. While good debt collection software certainly has its place in the...
5 Strategies to Help You Build a Better Commercial Collections Process Commercial collections can be stressful for any business owner, whether you run a small mom and pop business or a multinational corporation. With that in mind, here are some effective and simple...
Although a past due commercial account will have its own associated facts that may cause you to create a specific commercial collections plan for it, it is helpful for business owners to understand the collections process. Keep in mind that throughout the entire...