Street Smart Debt Collection™: The Intelligent Way to Boost Business Cash Flow and Collect Past Due Payments
Many companies struggle with business cash flow. Collecting every past due payment can boost your operating cash flow significantly, but many business owners struggle here. Our Street Smart Debt Collection™ solution supercharges your accounts receivable collections efforts and enhances net cash flow.
Welcome to the Street Smart Debt Collection™ email series, a complimentary series of quarterly emails covering topics you can use right away. First, the five-part collection letter series including the Final Demand Letter and IRS Advantage™ followed by collection phone call strategies, business credit screening 1-2-3, best negotiating tactic ever, invoice tips, early payment discount tools, small claims court options, and more. Everything you need to help generate positive business cash flow.
Stop Paying Third-Party Fees and Increase In-House Accounts Receivable Collections
Working with a third-party collection agency or collection attorney can be costly. Every attempt to collect a past due payment costs you 25% to 50% of the debt in question. However, the alternative is usually worse – wasted time and payroll hours while your employees try to collect debts to no avail.
What if there was a better way? A way that guaranteed not only successful accounts receivable collections, but also eliminated those exorbitant fees and enhanced your operating cash flow?
With Street Smart Debt Collection™, you have the tools necessary to collect over 50% of the third-party receivables that you’re currently paying a debt collection agency to recover.
Industry-Disrupting Performance
The debt collection industry is valued at $200 billion. It’s no wonder these agencies and attorneys have little interest in empowering business owners to collect on their own. The Street Smart Debt Collection™ system is disrupting that industry by giving businesses like yours the tools you need to collect more debts in-house, rather than paying an agency or attorney to try on your behalf.
The Street Smart Debt Collection™ System is the brainchild of Ben Ricci, a seven-year veteran of the corporate credit management industry. He developed this industry-disrupting solution through 250,000 collection phone calls and 500,000 collection letters, honing the techniques needed to collect more accounts, save time, and reduce costs, all without losing your valued customers.
Are you ready to stand the current collection system on its ear? You deserve to collect 100% of those late accounts and we can help.
Money on the Books Does Not Equal Cash in Hand
Too often, sales are equated with financial success. The problem is this: until payment has been collected, that money is not yours, nor is it in your company’s bank account. And accounts receivable that go longer than 60 days are unlikely to pay voluntarily, meaning those sales are unlikely to ever become cash in hand unless you act. The challenge is knowing what you need to do and when to do it to boost business cash flow.
Our Street Smart Debt Collection™ Process
There’s an idea out there: businesses that fail do so because of a lack of profit. That’s not the truth, though. More businesses fail because of a lack of cash – without operating cash flow from accounts receivable, you lack the money to keep the lights on, pay employees, invest in new equipment or goods…you get the picture. And using collection agencies or attorneys eats into your net cash flow, reducing financial viability even further.
Our Street Smart Debt Collection™ solution offers you the tools, knowledge, and guidance necessary to collect on late accounts yourself. Remember – only 20% of your customers will pay late, but that 20% will usually account for more than 80% of your credit department’s time and frustration. And with receivables growing faster than sales or inventories and credit becoming the go-to option for more customers, payments have slowed by almost 10% in recent years.
All that adds up to one thing: a major bottleneck that slows your business cash flow to a trickle, starving your organization of needed cash, even while your bottom line is in the black.
While our Street Smart Debt Collection™ process offers a step-by-step solution to building positive operating cash flow, it relies on one incredibly powerful collection strategy – reporting the debt as a loss. When this happens, the IRS can treat your financial loss as income for the debtor, increasing their tax burden and leading the IRS to examine the company’s tax statements more closely. This virtually guarantees payment of late accounts.
We also help ensure:
- Prompt billing to discourage late payments
- Successful collection letters and phone scripts
- The knowledge of when to stop working with troubled accounts
The Rules of the Accounts Receivable Collections Game Have Changed
Efficient accounts receivable collections have always been challenging for businesses. It takes time, specialist knowledge, and money that organizations can ill-afford to lose. That’s one reason that most businesses turn the process over to specialists who then charge them exorbitant rates and deliver abysmal success rates.
There is a better way – a solution that virtually guarantees success, while saving you time, money, and hassle, and also empowering you to collect on late accounts without the need for a collection agency or attorney.
Paid sales are the only way to generate profits. If payment is not forthcoming, that sale begins to stagnate, and the longer it sits unpaid, the less likely it is that you’ll see a penny, reducing your business cash flow.
The entire point of all sales activity is to put money into your company’s checking account. And, while there’s a lot of value in today’s push to overdeliver when it comes to customer satisfaction and retention, a customer is not truly a customer until the promised money is in your bank account.
Isn’t it time you had access to the most powerful business cash flow tools available? Contact us today to schedule your no-obligation consultation and to learn more about how our Street Smart Debt Collection™ tool can encourage slow-to-pay debtors to make good on their debt while also keeping them as happy customers.
Debt collection doesn’t have to be a zero-sum game – there’s a way for everyone to win. Let us show you how.