It’s like anything else I guess. Human nature to gravitate towards the biggest and so called best. Seems reasonable enough when you think about it, everyone else must be using their services, so it must be the best decision. Let me share with you just a few thoughts on why choosing a collection agency that is smaller might just be the best fit for your organization. I’ve had the privilege to be a part of both the big conglomerate and the small “mom and pop” agency. I may be a little biased, but then again for good reasons and I will let you be the judge.
At the heart of any agency are the agents
A smaller agency does not have a strategy to simply fill the seats and hope a few good agents stick around. A smaller agency operates with a smaller hiring budget so resources are poured into developing/training a seasoned group of agents that are taught to understand the importance of every client and not just a bonus check. That means protecting our business, your business and building a lasting relationship with each client.
Personalized communication and reporting
We all know the frustrations of press 1 for this and press 2 for that. Or the frustration of sending an email and waiting days for a response. A smaller agency does not have a staff of overworked, underpaid, revolving customer relations employees. Getting personalized reports to fit what your specific needs are, is simply a phone call away, not an IT nightmare.
Personalized attention to you
A smaller agency makes it their business to know how your company operates. We want our agents to understand your operation and exactly how an invoice is generated. The better the understanding of the charges they are calling about, the better chance of collecting the invoice. We want the customer to feel as if they are speaking with an extension of your office.
A smaller agency makes it their business to know how your company operates. We want our agents to understand your operation and exactly how an invoice is generated. The better the understanding of the charges they are calling about, the better chance of collecting the invoice. We want the customer to feel as if they are speaking with an extension of your office.
Your accounts are not lost in the shuffle
Although a larger conglomerate may have more resources to throw at accounts, they have thousands and thousands of accounts. They have large Fortune 500 companies to keep happy and all attention will be given to them. The best agents, the best managers, and overall resources will be allocated to these clients. Unless you are sending 10’s of 1000’s of accounts every month you are on the back burner. That is just the economics of it all. A small agency must keep even the smallest client happy and full attention is given to every account. All of our agents are the best at what they do so every account is worked by the best and most professional agents.
Although a larger conglomerate may have more resources to throw at accounts, they have thousands and thousands of accounts. They have large Fortune 500 companies to keep happy and all attention will be given to them. The best agents, the best managers, and overall resources will be allocated to these clients. Unless you are sending 10’s of 1000’s of accounts every month you are on the back burner. That is just the economics of it all. A small agency must keep even the smallest client happy and full attention is given to every account. All of our agents are the best at what they do so every account is worked by the best and most professional agents.
I’m not saying that large agencies are bad or they don’t care, but let’s face it the simple economics are that they have to feed the beast as it’s called. They have a large overhead and must keep the larger clients from placing elsewhere. A smaller agency will have the same tools and strategies that the larger agency does just on a smaller scale.
Keep an open mind when choosing a collection agency. As with most things, it’s not a one size fits all decision. You want the most out of your receivables. Make sure you know that your accounts are given the fullest attention possible. Take the time beforehand to speak with the agency. Are you comfortable with the attention you will get once you place the accounts? Make sure the line of communication will always be open for you.