0
This is a short video to help Improve inhouse collections procedures.
We put together a short video from our sales conferences throughout the year. Visit our Youtube channel to video or watch below on our blog!
FOR IMMEDIATE RELEASE:
American Agencies celebrates 40-year anniversary with new technology
Los Angeles, CA (December 2, 2009)—American Agencies (www.americanagencies.com), a national leader in the collection industry, celebrates its 40-year anniversary this year. To show its innovation and connection with technology, it has launched major presences on social networks including Facebook, LinkedIn, Twitter, and YouTube. In doing so, they hope to educate and inform prospective customers and current clientele about best practices for increasing revenue through collections.
American Agencies also announced two new innovative services to assist their clients in their in-house collection efforts. AmeriScore is a unique tool that prioritizes accounts according to the likelihood of recovery so clients can focus on those who have the ability to pay. AmeriFind is a skip tracing process that researches unpaid accounts and returns information not usually found on a credit report such as new addresses and multiple phone numbers.
Andrew Rosenfeld DMD, a long term client of American Agencies stated, “We’ve been able to recover 40% of balances due, which gives us over an eight times return on our investment. At this stage we control the collection process and the money comes directly to us. Those patients that don’t respond go to their Phase 2 contingency service, where they have recovered an additional 29% of these harder to collect bills for us.”
Mark Slagle, Owner and Founder of American Agencies, said of its 40-year anniversary, “We have always been committed to our clients and the accounts we service. Our substantial investment in technology and growing presence on social media networks will help us service and educate our client base and those interested in collection processes. We look forward to the continued growth of American Agencies as we celebrate our 40-year anniversary.”
About American Agencies
Founded in 1969, American Agencies has partnered with creditors – some of them Fortune 100 organizations – to formulate and execute specialized recovery strategies in various industries including healthcare, telecommunications, banking, education and high technology. Having a diversified client base, licensing and authority across the United States, and a revenue growth rate in excess of 20%, American Agencies has become a national collection agency leading in commercial and consumer collections. American Agencies report to all three credit bureaus, complies with all federal regulations (FDCPA, FCRA, HIPAA etc.), and is a member in good standing of ACA International, the association of credit and collection professionals.
CONTACT INFORMATION:
Phil Case
Fluid Studio
801-295-9820 ext. 39
www.fluid-studio.net
For more information on career opportunities at American Agencies click here.
You can be in business for yourself but not by yourself. You can have your own office and a corporate office. You can schedule your own time and advance to management within six-months based upon your skill and ability. This is a dream career your talents and work ethic deserve.
The American Agencies business model is an ideal one compared to most every opportunity out there in the market place that you as an entrepreneur have to choose from. This is business-to-business sales during regular business hours. We offer you the opportunity to build a client base that will reward you indefinitely into the future, on the effort that you put in today.
Why this is an ideal opportunity:
• Unique business-to business service.
• Repeat business in a recession proof industry.
• No territory limitations or income limitations.
• Opportunity to build equity through residual income by developing your client base.
• Opportunity to build a multiple layer sales organization we believe a first in our industry.
• Creative marketing support to help you grow.
• Opportunity to be a part of making a difference in the community.
• $4,000/month initial w/ minimum requirements.
• $40-$60,000 1st year income opportunity
American Agencies offers you, as an independent representative, various services that you can offer to your prospective clients in the area of receivables management. You should be working with American Agencies, a 40 year-old nationwide collection agency. You would be promoting the current dominant corporate philosophy of “outsourcing” your clients’ receivables to a specialist, so that your client can focus on their own core competency.
As a sales consultant, you are free to work from a home office or an outside business office if you choose. There are no territories so you are not limited geographically regarding client potential or sales force potential. There is also no limit to your income as we are all independent contractors getting paid through a generous commission structure. We have a detailed on-line training program in addition to on-going personal instruction.
Personal Requirements
You must:
Be driven to succeed, and be comfortable meeting and consulting with a broad range of local area businesses.
Bring the highest level of business ethics and personal integrity. You must want to succeed in sales and service without compromise.
Have a high level of motivation to make your mark and excel within an aggressive, industry-leading firm.
Understand that real success takes perseverance, intelligence, and hard work.
Technical Requirements
Strong computer skills
Solid Interpersonal and communication skills.
Ability to follow a successful marketing plan
Entrepreneurial attitude and high-energy, high-commitment approach
If you would like to learn more about this opportunity, call our National Sales Office at(866) 961-9600 or email us at info@americanagenies.com
Career information: http://aaonlinesales.com/careers/
Product information: www.americanagencies.com
Collections and Recovery are the two sides of the credit lifecycle coin. Choosing which side of the coin to use depends on decision making. Profitability depends on the quality of those decisions. Historically, these decisions have been based primarily on risk and the amount owing. Analytics has shown us that these factors may not have been used in the best possible way and are not necessarily the best criteria on which to base decisions. For example, customers owing large amounts are often given priority, while customers with smaller amounts owing may repay more readily. The factors in choosing between collections and recovery are subtle and interact, so intelligent analysis is required to discover the best strategy to follow.
The key question most creditors ask is “Given everything I know, what is the best action to take for this customer right now?” Various actions have different costs associated with them and some actions cost more than the average amount recovered. Thus each action should be judged on the basis of their net benefit.
Therefore, the real question for credit providers to address is, “Of all the actions I could take now, which has the greatest net benefit?” The decisions to be made in collections and recovery are quite similar: when do you contact the customer, how do you contact the customer and what do you say to the customer?
Collections versus Recovery
Collection actions are focused on reinstating the customer relationship. The future value of the reinstated customer is a major element of the net benefit in collections.
Recovery efforts are focused on a customer who has already lost the relationship and the focus is on reducing the credit losses that have already been incurred.
In recovery the net benefit depends on the amount recovered and the cost of the actions taken. Both these quantities can be predicted statistically for each debtor. These predictions will be based on various information that is reliably available and may include, past account behavior, past collections behavior, credit bureau data, and demographic data.
Scoring models can be constructed to predict the probability that an actively worked debtor will make significant payments.
A payment score spreads the debtors according to their probability of making significant payments given that they are actively worked. The probability of payment and the amount owing can be combined to predict which accounts to focus on.
Some debtors make significant payments after inexpensive and minimal actions (such as a reminder letter). It is possible to use analytics to predict the probability of payment by various actions. This kind of score can be used to reduce collection costs by delaying more expensive collection actions for those debtors most likely to respond to minimal action.
Implementation of these strategies can be rather tricky in practice. It is also important to record and store detailed information on the collections and recovery processes to allow for the development of incremental improvement of strategies.
American Agencies offers a comprehensive range of products and services to assist its clients with collections and recovery analytics. For more information and a free consultation contact Rick Toot at www.americanagencies.com or 704-566-4079.
If you’re trying to cut costs in your small business to try and improve cash flow, then chances are you haven’t even thought about using third party debt collections. After all, if you’re trying to cut costs do you really need another expense? The problem with many small business owners is that they have their thinking turned the wrong way around.
By hiring a collection agency to recover any unpaid debts quickly and professionally, you could easily find your cash flow improves far beyond the amount of just cutting back a few expenses. The money that is left unpaid by customers or clients is cash you could be using to sustain your business further. No doubt you would already have been sending out reminder notices. When these don’t work and those bills remain unpaid it’s time to call in the debt recovery agencies to get your money back where it belongs.
Article sent in by Rick Toot read at www.insidearm.com and linked here.
It seems like every source of media today is talking about the tough economy that we find ourselves in. As a business owner, how does this affect you getting paid for services rendered or products delivered? How can you make sure to maximize this “pure profit” of the business i.e., income that comes in after all other expenses have been paid?
At the collection agency conferences that the leaders of American Agencies have been attending recently, the participants are echoing the same message that collections are down about 15% to 20% nationwide. They are unanimous also in reporting that agencies are working out longer payment plans with their customers (debtors). Agencies are also reporting that their clients have now become especially sensitive to their image in the community, not wanting to lose any clients due to overly aggressive collection tactics.
THE MOST IMPORTANT FACT to understand in dealing with your receivables has to do with aging. Statistically, the longer that someone goes without paying you, the harder it becomes to collect that debt. What’s going on behind the scenes when an individual or a business receives your bill is critical to understand. When your customers or patients are “cash challenged” they have to prioritize whom they are going to pay. American Agencies’ diplomatic approach allows our clients to prioritize their bill by bringing us in for help earlier in the aging cycle than they would have normally done. At the same time they know that their companies’ friendly community image will be preserved while bringing in their much-needed cash flow.
Between bills and phone calls we recommend that clients using our pre-collect letter series limit contact to 3 or 4 attempts before starting our written demands. Our second phase of collections has our collectors calling your customers and treating them in a calm and courteous manner that is a direct reflection of the enthusiastic “Golden Rule” company culture that results in the average employee longevity of six years on the job, unheard of in the collections industry. This approach of treating people with respect and dignity is not only the right thing to do, it works! American Agencies is also a national leader in the use of skip-tracing technology ensuring even higher recovery rates.
In summary, our diplomatic approach to your customers, along with our state of the art technology , becomes the perfect formula for cash flow recovery for your business.
Welcome to our Blog. We aim to inform and educate readers about the Collection Industry.
Back to top