B2B FinTech is becoming more popular in the business world. Companies are using FinTech platforms like Paypal, Venmo, Gusto, Quickbooks, and other technologies that optimize workflows for chief financial officers. If you are a vendor of any of the FinTech platforms, you are probably busily at work, handling any technical issues that arise and making sure clients are happy with your products.
But what happens when clients end the contract early? Let’s say, they believe they found a better platform and decide to start working with them and stop paying you for your services. How do you get them to pay you until the end of the contract? Is there a way to recover that loss?
We have great news for you. Southwest Recovery Services can take care of collecting your former clients’ debt. We have a team of talented professionals that have collected debt from businesses for many years. As soon as you give us a call, we will get started on collecting!
Challenges of B2B FinTech Debt Collections
Working for a well-known FinTech company is a lot of work and responsibilities. You need to ensure that your business clients are happy with your services, all the time. If you fall behind on checking up on some clients, it’s understandable. Having thousands of businesses relying on your platform is tough.
Sometimes, your platform may encounter technical difficulties and clients may not be so understanding. They may quit your services even if they signed a contract. They simply stop paying. Instead of chasing down these clients, hand them over to Southwest Recovery Services. Our agents have all the resources, expertise, and time to collect from your clients.
If your B2B FinTech company wants to handle debt collection in-house, it can be difficult because many companies simply don’t have the time. You might think it’s cost-effective to hire new employees, but this isn’t actually the case. Onboarding, creating new infrastructure, attorney cost, credit bureaus, and research tools are all required as a part of the hiring process and can end up costing a FinTech company more than the debt they need to collect.
Advantages of Working with a Debt Collection Agency
The best way to recover your clients’ debt is to outsource to a debt collection agency like Southwest Recovery Services. Our team is highly trained to handle any type of client or business. We always approach your clients with professionalism and respect because we understand how important your reputation is. Our agents use every available strategy to collect, such as:
- Oral and Written Communication
- Customer Service Quality Standards
- Effective Negotiation
- Skip Tracing Techniques
- Credit Reporting
- Legal Action
Our agents follow state and national rules and regulations to ensure ethical collections. These include:
- Fair Credit Reporting Act
- Bankruptcy Laws
- Fair Debt Collection Practices Act Certification Class
- American Collectors Association Rules and Regulations
Team Up with Southwest Recovery Services
If you have any questions about our collection process or are ready to hand this tedious task over to our expert agents, give us a call today!