The recent economic slowdown caused a dramatic increase in delinquent accounts, which many industries were not equipped to handle. As a result, many industries saw a sharp increase in Accounts Receivable and turned to CTP for a solution.

CTP's solution utilizes a low cost for each collection and not a high percentage rate for contingency collections. Our customers using our collection solution significantly reduced their collection costs while retaining and retraining customers to make payments in a more timely fashion. The result was significantly reduces collection costs without alienating the customers while at the same time protecting the company's image.

Designed to encourage faster payments, improve biller cash flow, and alleviate the expenses associated with delinquent payments, the CTP solution also drives customer adoption of paper turn off which benefits green initiatives. For more information about successful collection strategies, visit www.CTPsolutions.com.

Case Example:

A national company had a serious delinquent Accounts Receivable problem; as a result accounts were being written off and assigned to a contingency collection agency. The collection agency took 25% of all recoveries and damaged the company's reputation in the process. So they called CTP Solutions. CTP recovered $350,000 for a client that had previously unresponsive accounts with past due balances as old as 12 months; all for only $1,800.

As a visible player in the marketplace this national company was concerned with their public image. CTP utilizes a diplomatic customer approach to foster reestablishment of communications between the delinquent accounts and the company. As a result, the company was able to successfully improve their internal collections performance while CTP retrained customers to make payments in a more timely fashion, which increased the company retention rate. Now fewer accounts are past due while CTP's program remains in place as a safety net.

This solution mitigated customer complaints and lowered collection costs. CTP's plan allowed the company to focus their internal resources on accounts less than 120 days past due while CTP implemented a strategy to recover the older balances; recovering $100,000 in the first week alone.