The VERY BEST Way to Collect on B2B Accounts Receivable

One of the biggest factors determining the success or failure of a business is how well they manage their accounts receivable.  Accounts receivable management is defined as the practice of collecting money that is owed after extending credit for a product or service.  You may not think of invoicing as extending credit but anytime your business delivers a product or a service and has to wait on payment, you're effectively giving the other business a credit line. That payment should be received in a relatively short amount of time or your cash flow is affected. 

Here are the VERY BEST practices to manage and collect on B2B accounts receivable.

Collect Unpaid B2B Invoices using Friendly Payment Reminder Services

When you work or partner with other businesses as your customers, it can be especially frustrating when they don't pay their invoices. B2B sales are much more complicated and require building relationships and trust over time. With this in mind, it may be tempting to take late or non-payment personally. Don't fall for it. 

Collect unpaid B2B invoices using friendly payment reminder services. 

Why Your Company Should Consider Outsourcing B2B Commercial Collections

The word “outsourced” sometimes has a negative connotation. Your employees may assume their jobs are at stake if management starts talking about outsourcing. You might be concerned about the lack of control over client relationships or the impact the third-party would have on your business.  While it's true there are pros and cons, a true partnership can far outweigh any concerns. 

Here are 5 reasons why your company should consider outsourcing your B2B Commercial Collections.

Is It Time to Hire a Third Party Collections Agency?

Following up with a client who hasn't paid can be a challenge for most people. If you're a freelancer or small business, it can be especially difficult because it's not your regular job. When invoices go unpaid, however, your business or your livelihood could be at stake. Are you following up with your clients on delinquent payments?

Is it time to hire a third party collections agency for your unpaid B2B invoices?

How Much Does Commercial Debt Collection Cost?

Did you know that the longer you wait to get a debt resolved, the less likely you'll get the total amount owed to you?

It can be worrisome to consider letting another company handle a client relationship or an account that's gone way past due. The truth is, worrying about it is costing you money. You're reading this because you have questions that need answers. First and foremost...

How much does commercial debt collection cost?

What To Do with That One Client Who Refuses to Pay?

When growing a business, organized finances, documented processes and the perfect staff can contribute to positive feedback and referrals from  clients. Even when everything is going right, there will be that one particular client who seemingly steals your joy.  Whether they're being difficult or too demanding (hello scope creep), it's imperative to set boundaries on the B2B relationship.  When they don't pay their invoices, it could be even more frustrating. 

When you're doing everything right in your business, what do you do with that one client who refuses to pay?

What is the B2B Collections Process?

Working capital and cash flow is imperative to any successful business. Accounts receivable management can help ensure access to cash through a consistent credit, invoicing and collections process. Business-to-business, or B2B, collections is different from consumer collections and the procedures for collection must be handled differently as well.

An effective B2B collections process will elicit more working capital and improve cash flow. Here's how...

Why You Should Hire a Commercial Collection Agency Right Now

If you're reading this, you may be wondering why the title suggests you should hire a commercial collection agency right now. Let's start by considering the reasons why you shouldn't:

  1. Your accounting is organized and handled with dedicated staff 
  2. Your clients always pay their invoices on time
  3. You've never considered taking a client to court over an unpaid debt

Feel free to click away if you've said "yes" to all three. Otherwise, read on.

Here's why you should hire a commercial collection agency right now.

Small Business Debt Collection - The Right Way

Small businesses balance on a precarious line when attempting to collect debts from their customers. Business owners trying to grow their business certainly don't want to lose customers. If those same customers don't pay their balances on time, or at all, it hurts the business even more because time and resources are already spent. Depending on the type of small business customers, there is a right way and a wrong way to do debt collection. 

Here are tips to do small business debt collection the right way.

Leveraging Three Commercial Collection Services in One: A/R, Bad Debt, Litigation

When your accounts receivable department could use some help, it will show up in a number of ways.  You may notice your sales are increasing but your cash flow isn't covering your bills. Bad debts are written off or your DSO keeps increasing.  To grow your business, especially if you want investors, you must make accounts receivable a priority, collect bad debt, and use legal action to collect what's owed to you. 

At Enterprise Recovery, we provide commercial collection services for every stage of the commercial collection process.