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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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ContemporaryVA Case Study: Solutions for International Business

PROBLEM: One business owner, “P.K.”, found that the internet removed many barriers for his Bangladesh-based business: He was able to gain access to a larger range of buyers and vendors, and he established a toll-free number and email address to deliver top-notch service. P.K.’s business grew!

However, there were three challenges that P.K. faced:

  • While gaining access to a larger potential buyer base was good, staying on top of the increased customer attention by checking email and voicemail turned out to be extremely time consuming for P.K.
  • The language barrier proved to be a problem, since English was not his first language but many of his clients expected flawless English when they wanted to interact.
  • Additionally, timezone issues became a challenge as many US-based clients wished to conduct business during their business hours while P.K. lived and worked nearly half-way around the world.

P.K. knew that he had a good business offering a good product; he just needed help.

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