Much has changed in the last few years about the economy and our consumer habits. While SaaS, or Software as a Service, has existed for over 20 years, it has grown sharply in the last few. Fortune Business Insights pegs the value of the 2022 SaaS market at $237.48 million, with a forecast of $908.21 billion in 2030. Even if this prediction doesn’t turn out to be 100% correct, the trend is undeniable.

Companies across sectors have adopted a SaaS approach. For example, you can’t buy Microsoft Word outright anymore. You need to pay a monthly fee to access it. Netflix and other popular streamers are SaaS companies.

Even Nintendo has adopted a SaaS approach, offering access to retro games through the Switch platform in exchange for a monthly fee. In the commercial space, Salesforce is one of the most popular forms of SaaS. Journalists using CMS programs on the back end of their websites work with a program that their company pays to use each month.

As SaaS as a model grows in popularity across sectors, we should also appreciate that they come from many different types of corporate cultures. As such, it’s difficult to chart out one universal approach to debt collections.

Let’s check out a few ways that Summit A*R can help collect debt from SaaS companies.

Responsive Approaches but Always Positive

Just like SaaS companies can vary widely in what they deliver and what their culture is like, SaaS collections must be adaptive and responsive. Whatever approach we take to SaaS debt collection, Summit A*R will always be positive, helpful, and respectful.

Sometimes, debt collection gets a bad reputation for being hostile and aggressive. Not only are these approaches ineffective, but they can also actively discourage a client or customer from working with you in the future.

Summit A*R is proud of our PHD philosophy, which stands for Preserve Human Dignity. We are honoured to be ethical debt collectors who never use any of the underhanded tactics that sully the reputation of debt collectors, like robocalls, aggressive or threatening language, or other ugly methods.

Every company is different, as are their clients and customers. We are happy to respond with whatever collection method best suits the specifics of your case. Summit A*R works closely with clients, and together, we’ll locate bad debtors and get those accounts back in the red.

Better Skip Tracing

Sometimes, companies go to extreme lengths to avoid paying debts, like changing their names or relocating altogether. When this occurs, companies have two options, and both present risks: should they invest more time, money, and energy into finding them, or take the financial hit and cut their losses?

If they opt for the former, they could waste more resources without even ever locating the debtor. If they choose the latter, they resign themselves to the financial loss while setting a bad precedent for future deals. Summit A*R is one of the only collection agencies with its own in-house, fully licensed private investigator, so we provide you with a third option that’s very hard to find elsewhere.

Without paying an extra fee, we’ll put our investigator on the task of locating your debtors and their assets. Our investments in this area can really pay off for you, as we offer access to their leading local databases, which drive our far higher success rate in locating debtors.

The agencies that rely on free searches don’t have these tools.

Credit Reporting

SaaS companies are as savvy as any in the tech space. They might owe money to one entity while also needing to secure loans. Summit A*R knows that reporting your customers to credit bureaus is one of the best buttons to push. Credit reporting gets proven results, as our track record shows.

Reporting outstanding debts to the credit bureaus in a timely manner can impact a company’s credit score, making it more expensive for them to secure a loan. Once a debtor can save money by paying you the debt owed, you’ll see results quickly.

All our reporting complies with the Fair Credit Reporting Act, and we handle all disputes quickly. Summit A*R revolves around ensuring nobody we deal with has any complaints, both our customers and their debtors.

Consulting Services

Summit A*R is there to give you a personalized approach to debt collections, but our consultation services can also improve your core internal processes. Sometimes, preventing disputes from arising in the first place is more effective than trying to collect them later.

Our knowledgeable specialists can help you reduce or avoid delinquency and write-offs, whether it’s SaaS companies or any others.

Full-Service Litigation

If we’ve tried everything and still the debtor doesn’t pay up, there’s only one method left: taking them to court. However, before it comes to that, our licensed investigator will complete a thorough financial investigation on the SaaS company owing the debt.

If there’s a bankruptcy or insolvency, we may undertake further due diligence to determine if going to court would render recovery probable. You’ll find that hiring a consumer collection agency offering litigation services has some tremendous advantages; if all this work determines that recovery isn’t likely, you can opt not to go to court, and you won’t have to pay a cent.

If our investigation determines court is or could be worthwhile, you can choose to go down that road. We won’t proceed down the legal track unless we have your permission in writing. Note that any information turned up in our investigation could still be used to help us recoup the debt, even if you opt against going to court.

Full, Constant Transparency

Given how SaaS companies emphasize the responsiveness that comes with constant access to a digital product, it’s fitting that companies that they owe money to can track these debt collection efforts 24/7, 365 on our secure and comprehensive web portal.

View the account’s status, download custom reports, and do more. Companies of all sizes across industries shouldn’t be left in the dark about money owed, especially considering that money should already be in their accounts.

Summit A*R is proud to be the premier debt collection agency in Minnesota, and we’re here to help you collect from any SaaS company or whatever debtor you’re dealing with.

Did you find this article helpful? Just imagine how helpful our experts could be when it comes to your bottom line! Learn more about our full suite of services, or contact us today to discuss how we can help recover your lost revenue.