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ContemporaryVA Case Study: Solutions for Accounts Receivables

PROBLEM: “E.L.” owned an international business that performed services for clients around the world and then invoiced them for the work. Unfortunately, he had more than $200,000 (USD) in pending receivables from clients in the United States, Canada and Latin America. The accounts ranged from 60 to 120 days old, and each passing day made them increasingly difficult to collect on.

E.L. had hired a collection agency, which charged him 30% of what they collected. The agency collected money from the US and Canadian clients with good results. However, a couple of issues combined to make collection from Latin American clients extremely difficult:

  • Letters were sent but never responded to (perhaps because of an inefficient postal service).
  • Phone calls were intermittently successful but poor connections, language barriers, and disconnected lines added to the challenge.

In short, E.L.’s collection agency was effective for some of the work but wasn’t able to complete the job.

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