Selecting a Third-Party Commercial Collection Agency
It’s said that anyone can lend money out but the hard part is getting paid back. The latter part is full of nuance, a 32-page white paper authored by Minnesota-based Dedicated Commercial Recovery (Dedicated) reveals.
“Choosing a third-party commercial collection agency is a matter of comparing potential returns and risks in order to achieve an optimal balance of both,” the report opines. “The purpose of this paper is to present one possible outline for making such a balanced choice.”
While it may be views that Dedicated espouses, the report stops short of self-promotion while raising valuable questions that anybody contracting with a commercial collection agency would benefit from considering. After all, even if third-party collections inherently suggests that relations between the original parties have broken down, the collections experience can set the final tone on how a customer feels about your brand.
That’s just the tip of the iceberg, according to the report. The collections process can have legal implications, present operational challenges, and ultimately impact the efficient orderly flow of business.November 8, 2019