Business Tips Archives - Brodie Collection Services

Things to Remember When Chasing Debtors

Philip Waldeck2024-10-26T00:43:26+11:00

Collecting debts from your customers is a task business owners generally don’t enjoy spending their valuable time completing? However, collecting past due accounts is essential to maintain a healthy cash flow while minimizing exposure to bad debts. If you are one of the many business owners currently experiencing issues regarding customer debts, you need to remember several critical items each time you start pursuing a customer for an outstanding account. [...]

Things to Remember When Chasing DebtorsPhilip Waldeck2024-10-26T00:43:26+11:00

Tips to Find the Best Debt Collection Agency

Philip Waldeck2024-10-26T00:53:10+11:00

In business, having a lot of debt can mean a lot of trouble. Late payments from customers are definitely one of the main sources of frustration amongst business owners. Having many debts and delinquent accounts can negatively impact cash-flow and ultimately the growth and stability of a business. Not to mention the fact that tracking down evasive debtors can cost you more money in the long run. To combat this [...]

Tips to Find the Best Debt Collection AgencyPhilip Waldeck2024-10-26T00:53:10+11:00

How to Get Your Customers to Pay on Time

Philip Waldeck2024-10-26T01:09:52+11:00

For many businesses nowadays, the main goal in order to be successful is to attract customers and generate sales. While we shall never deny the fact that every purchase of a product counts, a complete payment is what it really takes to seal the deal. Customers can be categorized into different variables like age, gender, geographical location, etc. But for the most part, there are only two types of customers: [...]

How to Get Your Customers to Pay on TimePhilip Waldeck2024-10-26T01:09:52+11:00

Tips for Improving Debtor Negotiations (Infographic)

Philip Waldeck2024-10-26T01:13:36+11:00

Dealing with debtors is perhaps one of the most complex tasks every business owner must face on a regular basis. Handling difficult debtors can be one of the most challenging experiences of all, as they generally require extensive resource and time to gain a resolution. When trying to make a customer pay the outstanding account, it is very important to implement several techniques and practices to ensure payment compliance. It [...]

Tips for Improving Debtor Negotiations (Infographic)Philip Waldeck2024-10-26T01:13:36+11:00

Do’s and Don’ts of Debt Collection (Infographic)

Philip Waldeck2024-10-26T01:15:36+11:00

Collecting debts is arguably one of the most exhausting and laborious tasks every business owner must face in order to run a profitable business. Neglecting those past-due accounts can negatively impact your cash reserves, placing your business at risk of underperforming. According to a U.S. Bank study, 82 percent of businesses today fail due to poor cash flow management. Your cash flow serves as the lifeblood of your business that [...]

Do’s and Don’ts of Debt Collection (Infographic)Philip Waldeck2024-10-26T01:15:36+11:00

Reasons Why Small Businesses Need a Collection Agency

Philip Waldeck2024-10-26T01:21:51+11:00

Competence is an important factor that makes a successful business different from the rest. And one way of keeping a strong foothold of your business is by effectively managing your cash flow. There are many things that can impact business cash flow, and one of the biggest influences is having a significant volume of overdue accounts. Failure of managing or monitoring your delinquent accounts can severely impact the growth of [...]

Reasons Why Small Businesses Need a Collection AgencyPhilip Waldeck2024-10-26T01:21:51+11:00

Reducing Cashflow Risk

admin2024-10-26T00:25:32+11:00

Poor cash flow management is a leading cause of businesses (both big and small) failing in Australia. It is not only new businesses that encounter cash flow problems, but also ones that have been operating for many years. There are a lot of reasons why a business runs into a cash flow problem. Here are some of the lesser known ones you should keep a lookout for – so [...]

Reducing Cashflow Riskadmin2024-10-26T00:25:32+11:00

What you can do if a Customer Refuses to Pay

admin2024-10-26T00:28:44+11:00

At some point, nearly all small businesses are confronted with a customer who refuses to pay. The work has been done or the goods supplied yet the customer still won’t pay. This can be very stressful for a small business – especially if the amount involved is having an impact on your own cashflow. Given that the work has already been done or the goods delivered what can you [...]

What you can do if a Customer Refuses to Payadmin2024-10-26T00:28:44+11:00

How your Personal Credit Score affects your business

admin2024-10-26T00:31:46+11:00

It is not commonly known that your personal credit score can affect your ability to secure a business loan as well as other forms of business financing. This is especially true for small businesses that employ less than 20 people. Even if you can secure credit you may be required to pay a higher interest rate due the perceived higher risk or have other obligations placed upon you. So [...]

How your Personal Credit Score affects your businessadmin2024-10-26T00:31:46+11:00

5 myths stopping people hiring debt collectors

admin2024-10-26T00:34:43+11:00

It is hard to believe but Australia has the reputation of being the slowest in the world at paying outstanding invoices - even worse than Mexico, South Africa and the United Arab Emirates. Even more surprising, numerous European counties - including Switzerland and Germany- actually pay their invoices early! The average time it takes for an invoice in Australia to be paid is 26.4 days past the due date. [...]

5 myths stopping people hiring debt collectorsadmin2024-10-26T00:34:43+11:00

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