Top 5 Myths About Working With a Collection Agency to Assist With Credit and Collections

By |July 14th, 2023|Categories: Commercial Collections|

 Working with a collection agency can be a helpful way for businesses to improve their B2B credit and collections processes and recover unpaid debts. However, there are many myths and misconceptions surrounding collection agencies that may prevent businesses from taking advantage of their services. In this blog, we will explore the top 5 myths.Myth: Collection agencies are aggressive and use unethical tactics to collect debts. Fact: While there may be some collection agencies that use aggressive or unethical tactics, most reputable agencies follow strict ethical guidelines and are focused on resolving debts in a fair and professional manner. They are[...]

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How Deglobalization Impacts American Small to Mid-Size Businesses

By |May 19th, 2023|Categories: Commercial Collections, International Collections|

Deglobalization is a complex process that could potentially have a significant impact on small to medium-sized businesses (SMBs). It refers to the reduction of interdependence and integration between nations in terms of economic, social, technological, cultural, political, and ecological aspects. Here are some facets and reasons why SMBs could face some challenges within the next 5-10 years.Reduced access to foreign markets and customers; this will cause an increase in trade barriers. Deglobalization can lead to trade barriers, tariffs, sanctions, and boycotts that make it harder for businesses to sell their products and services abroad. This can reduce revenue and growth[...]

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Invoice Discounting

By |April 24th, 2023|Categories: 1st Party Collections, 3rd Party Collections, Commercial Collections, Flat Fee Collections, International Collections|

As a business owner, have you ever considered invoice discounting is a strategy to help you improve cash flow, reduce your credit risk, and incentivize your customers to pay their invoices faster?Invoice discounting means offering a percentage reduction on the invoice amount if the customer pays within a certain period of time, usually shorter than the standard payment terms. Common discount terms include 1% to 5% off the invoice amount if paid within a specific timeframe, such as 10 or 15 days from the invoice date. This could even work as an alternative to accounts receivable factoring or financing. Invoice[...]

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The Risks of Aged Receivables and How They Impact Commercial Enterprises

By |April 24th, 2023|Categories: 3rd Party Collections, Commercial Collections, Flat Fee Collections|

Here are 5 different ways slow paying customers can bring pain to your operationsLoss of competitive edge: Business owners need to constantly innovate and adapt to changing customer needs and preferences. They need to invest in research and development, marketing, and customer service to stay ahead of their rivals. However, if they have too much money tied up in aging accounts receivables, they may not have enough funds to finance these activities, resulting in lower quality products or services, reduced customer satisfaction, and loss of market share.Reduced bargaining power: Enterprises often have to negotiate with their suppliers, distributors, lenders, and[...]

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Top 5 Strategies to Reduce Days Sales Outstanding (DSO)

By |March 28th, 2023|Categories: 3rd Party Collections, Business Credit Reports, Commercial Collections|

Navigating through tough economic downturns can be challenging for any business, and maintaining a healthy cash-flow is extremely crucial for financial stabilityDays Sales Outstanding (DSO) is a key metric that measures how long it takes for a business to collect payments from its customers after a sale. A high DSO indicates that the business is struggling to convert its sales into cash, which can affect its liquidity, profitability and growth. A low DSO indicates that the business is efficient in managing its receivables and has a healthy cash flow.In this post, we will discuss the top 5 strategies for reducing[...]

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Comprehensive Guide for Small Businesses to Make Better Credit Granting Decisions

By |March 16th, 2023|Categories: 3rd Party Collections, Business Credit Reports, Commercial Collections, Flat Fee Collections|

As a B2B credit grantor, making the right credit granting decision is essential for the success of your business. In this comprehensive guide, we'll explore the key factors to consider when making credit granting decisions, as well as some best practices to help you minimize risk and maximize your chances of success.Conduct a Credit Check:  Before granting credit to a new customer, it's important to conduct a credit check to assess their creditworthiness. This can include reviewing their credit score, payment history, and other financial information. You can work with credit reporting agencies or use online tools to gather this[...]

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How To Choose The BEST Collection Agency

By |October 27th, 2022|Categories: 1st Party Collections, 3rd Party Collections, Asset & Liability Reports, Business Credit Reports, Commercial Collections, First Party Staffing & Recruiting, Flat Fee Collections, International Collections, Litigation|

Businesses will inevitably encounter unpaid receivables. Businesses can attempt to collect on their own; however, partnering with a collection agency can help improve returns on those debts.As many as there are reputable collection agencies, there are that many bad ones out there. It is important to do some research on the agency. Some key factors to consider are:Does the agency handle commercial collection debt?Can the agency handle both domestic and international commercial debts?Is the agency professional and persistent?How does the agency report progress?Does the agency offer credit reporting?Here, at Bravo Recovery, our staff has more than 100 years of combined[...]

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