To fully offer the most detailed and reliable collection services in Houston, we are devoted to thorough investigations and comprehensive methods. With state-of-the-art technology and ongoing training, we ensure that each of our investigators are ready to accept any challenge.
Through our network of certified fraud auditors, licensed private investigators and experienced trained commercial professionals, Alexander, Miller & Associates has become one of the leading commercial collection agencies in Houston and all-around North America.
Good management skills help collection agencies be successful. Motivating and retaining good employees is critical to achieve short term and long-term collection success.
Communication is the key to motivating. In collection agencies, this is true because collectors must thoroughly understand their clients, the debtors and the inner workings of the collection agency’s systems in order to be most productive and maximize the likelihood of success on each account.
Debt collectors and employees in general like to know what is going on and what to expect. Keep your collectors and employees conversant. By communicating regularly with collectors, Alexander, Miller & Associates, LLC employees feel important and necessary to the process.
Do you have a well-established credit policy? If you do not, then that is where you need to start.
A credit policy makes expectations clear for your client and for your employees. It lays out invoicing, acceptable forms of payment, payment terms, deadlines and credit lines. Without such a policy, there is too much wiggle room for clients who do not want to pay on time. It also tells your employees what is expected and when a client has moved from late paying to being in collections mode.
Check each client’s creditworthiness before extending credit and recheck it every year. A client may be in good financial shape one year and in dire straits the next.
When your staff does work for a client on credit, you need to provide your client with invoicing and documentation promptly. It sets expectations. Waiting a few weeks to provide an invoice tells the client there is plenty of time before there is a need to pay it.
Be sure that you send the paperwork to the appropriate person. You may find that the client company requires its payables be sent to a third-party address. If you send it to the wrong location it will only delay the process of getting paid.
Always know the person to whom you need to speak with about payables; sometimes it is the owner, but could also sometimes be the accountant or a third party., it is the owner. You do not want to wait until you need to make a collections call to find out to whom you need to speak.
Making a collections call is a skill that you must develop. It is not something which comes naturally to most. There should be no guilt or pain in making a collections call. Your agency staff provided services and you are already paid your staff for their time. You deserve to be paid as well.
The goal of any collection call is to get the client to acknowledge the debt and to come to an agreement on when it will be paid.
Here are a few things to keep in mind:
You can become proficient in making collection calls, yet you will have some accounts that you cannot collect. Be prepared to call in the professionals, Alexander, Miller & Associates, LLC, when this happens. Establish a working relationship with us so that we can take those accounts off your hands.
Clearly, communication and motivation go hand in hand. Collection agencies need motivated debt collectors who are well informed and know how to do their job. At our agency, open communication coupled with excellent, consistent training has enabled us to achieve great collection success.