Handing these accounts off to a collection agency worried this company for a number of reasons. We were concerned with the high collection agency fees and the risk of a decrease in the account receivable value. We were also worried about the customer’s perception of the company and the risk of alienating them. Ultimately, the loss of control over these accounts after they had been passed off to the collection agency was of great concern to us.
CTP Solutions offered collections with customer service. After all, we are representing the company and you need a partner that will make sure your company will not be viewed in a negative light. CTP Solutions takes this philosophy to heart when working with your delinquent accounts. Like all good customer service representatives, we must explain to the debtor the importance of paying the money owed to the business in a timely fashion while making the process as painless as possible.
CTP Solutions offers good customer service at a Flat Fee in a flexible program that allows the client an opportunity to continue to work with the past due accounts that were less than 90 days, while CTP Solutions focused on the accounts that were older than 90 days.
CTP Solutions was contracted and began immediately, and after just one month of work we collected 40% of the past due accounts. After 180 days, we recovered 62% of the money that was past due. All money collected by CTP solutions were from accounts that had previously not responded to the collection efforts made by the client’s internal staff. Eventually we recover 67% of all accounts, which is more than four times the average recovery rate.
CTP Solutions provided a professional commercial collection solution specializing in the collection of delinquent accounts over 90 days nationwide for a flat fee. We also provided outsourced accounts with receivable management service, which assisted the client’s internal staff and provided solutions how to improve collections, statements, invoices and reminders. Our account receivable management service will enable your company to become more efficient. Don’t pay higher fees for a partial solution. Talk to CTP Solutions and:
- Lower the cost of collecting past due balances
- Improve collection percentage
- Improve cash flow
- Improve your customer service
Call today to see what we can do for you.