Solving Debt Collection Challenges for a Large F-100 Company

Big and small companies alike can’t go too long without collecting debts but making good on outstanding payments is a very different proposition for a large Fortune-100 company than your local mom-and-pop shop. Scale is everything, and you need to be able to repeat the process.

Perhaps the little corner store can let a reliable customer buy something on credit or start a tab. However, individual interactions based on trust don’t work for enterprise companies with thousands of customers and major overheads and salaries to pay.

Summit A*R is proud to work with companies of all sizes to ensure their bills get paid and money is in their accounts where it’s supposed to be. Let’s take a closer look at our debt collection strategies for larger F-100 companies.

No Burned Bridges

Before getting into the weeds about our specific debt-recouping methods, we need to describe the overall approach that underlies all our methods. Summit A*R takes protecting your company’s reputation seriously, so all our personnel will be respectful and courteous whenever dealing with customers, clients, or whoever owes you money.

Yes, you need to collect on payments owed, but not at the expense of burning bridges with the people you’d like to keep doing business with. Asking for money can be awkward and uncomfortable, even, or perhaps especially, when you really are owed the money. The request can reinforce that someone is currently a delinquent debtor, which isn’t a great feeling.

Our debt collection professionals always focus on achieving the best outcome for everybody involved, which means using a positive tone when collaborating with people to resolve outstanding issues. There’s no judgement or negativity when dealing with people who owe funds. After all, you never know why a commercial client or customer cannot make payments, and they may very well have a good reason.

If an F-100 company used their own in-house employees to collect every outstanding payment, it’d divert substantial attention away from its own operation. In-house collection efforts need professional help, as chasing down delinquent payments can be expensive and aggravating, and there’s no guarantee you’ll succeed.

Summit A*R is very proud of our PHD philosophy, Preserve Human Dignity. We know that, ultimately, even if another large company owes you money, there’s a person on the other side in control of repayment. Treating them with the kindness they deserve isn’t only morally the right thing to do; it also leads to the best financial outcomes.

F-100 companies invest a lot of money in branding and developing positive relationships with B2B customers and consumers. We never use aggressive, harsh tactics like robocalls, threats, or threatening language.

Our specialists are trained in best practices, and they manage to work towards the ultimate resolution without burning bridges while getting better results. Indeed, Summit A*R manages to recoup nearly double the industry average, so you don’t have to choose between prioritizing your bottom line and leading with respect. Put another way, we’ll pursue your short-term needs without jeopardizing your long-term strategy.

Pressing the Right Buttons

Businesses revolve around keeping their operations afloat, which means managing their finances closely. They are often pulled in different directions at once, with divergent bills to pay. Sadly, that may mean they don’t always make paying you back a first priority. But if you know what buttons to press, that can change.

After all, companies also have credit scores, and they tend to take repayments more seriously after seeing overdue notices, knowing that a debt collection company is on the case. Often, it makes more sense for them to pay you back than risk a lower commercial credit score, which would make it more expensive for them to secure loans down the road.

When a company can be more profitable and operate smoothly by paying you back, you’ll see the money back in your accounts. Summit A*R’s collection professionals all have at least 10 years of experience handling debts. We have positive relationships with all the leading credit rating agencies and are proud of our A rating from the Better Business Bureau.

Finally, we’re one of the only commercial collection agencies in the US with their own fully licensed private investigator in-house to handle skip tracing. They can track down people who don’t want to be found and locate their assets. In over 28 years of experience, we’ve found that the most effective debt collection strategies combine treating people with respect while knowing how to quickly resolve truly difficult cases.

Secure, Comprehensive Portal

The larger a company is the more complicated its finances. F-100 companies need predictability and reliability to make long-term financial forecasts, which means they need to know about the status of debts on command.

Summit A*R’s digital portal gives companies a secure, comprehensive look into the status of any debts. Companies can place new debts for collection, view the status of old ones, download custom reports, and more. If corporations don’t have the money already in their accounts, they need to know when it’ll be there, 24/7.

Advising and In-House Collections

Usually, F-100 companies are leaders in a special service or industry. That expertise doesn’t always extend to every aspect of running a business, and acquiring this independently over time isn’t always beneficial.

Summit A*R will take it off your hands. We can help when it comes to billing, telephone follow-ups, insurance follow-ups, or listening to customers describe why they have a balance. Some companies prefer to let seasoned collection professionals advise about best practices or take over their collection efforts entirely.

In addition to assisting with debt recovery for large businesses, we also proudly offer in-housing advising that steers F-100 companies in the right direction. We can customize the approach to suit your needs and tailor an approach which makes sense for your business.

Legal Action

What happens if all options are exhausted and still no payment is forthcoming? If you don’t have assistance, taking legal action for unpaid debt can be expensive and may not achieve results. We’ll look into each case to determine the likelihood of recovering the debt. If it’s worth it, we’ll pursue the case. If not, we won’t, and you won’t have to pay a penny. However, we may leverage information learned in our investigation to help with recovery efforts.

Summit A*R is proud to work with companies of various sizes across industries. We thrive in giving F-100 corporations the human touch and offering it to their clients and customers. If you have outstanding debts and need a quick solution, call Summit A*R today.