As HVAC professionals, you know that the job you do is incredibly important. This is especially true for those of you who work with other businesses. It’s nearly impossible for employees to focus on doing good work when they are uncomfortable. Your services ensure a pleasant and productive work environment for your clients. Behind the scenes, you have even more responsibility for your business. You manage logistics, mentor employees, and handle administrative work. Unfortunately, one of the most complicated parts of your admin duties is accounts receivable. Even more complicated is collecting payments that are past due.
Commercial Heating and A/C Collections – Don’t Wait
When bills for commercial clients become past due, one of the most common mistakes we see is letting them go dormant. Commercial accounts are often on longer billing cycles. Whereas consumer accounts may be expected to pay at the time of service or within 7-10 days, commercial accounts are often on billing cycles as long as 60 – 90 days. Also, business clients may have their own cycle for paying bills, which doesn’t always sync with yours.
Because of this, some business owners give extra leeway for other businesses when it comes to paying their past due invoices. They often hope that this extra consideration will lead to prompt payment in the future and an increased sense of loyalty. Unfortunately, we haven’t found that to be the case. A better strategy is to keep the debt top-of-mind for your client, which requires extensive follow up and multiple contact methods.
The Problem With Internal Collections
Another mistake we see is trying to collect the debt internally. Business owners will either try to reach out themselves or delegate collection calls and follow up to their administrative staff. This can cause numerous problems. As the owner of the business, you have entirely too many responsibilities to become your business’ primary recovery agent. As you grow, you could have multiple accounts in a collection status, and trying to keep up with them all could eat up hours from your week. At this point, you may consider delegating to your administrative staff. But of course, you know they also have very important duties already. Plus, they may not be educated in good techniques for debt collection, so collecting may take longer and result in dissatisfied clients.
Professional Debt Collection is The Better Way
Professional debt collection is the best way for your commercial heating and A/C company to handle your outstanding debt. Studies have shown that both private and corporate clients are more motivated to pay outstanding debt when a collection agency gets involved. The sooner you refer your debts out to collection, the more quickly we can help you get paid. Because we specialize in collecting commercial debt, we are well versed in the legal and practical challenges involved. We can help you avoid inadvertently breaking collection laws or having debts exceed the statute of limitations. Finally, because we pride ourselves on providing friendly, customer service focused collection methods, we will never embarrass your business with rude behaviour. We are an extension of your team, and we treat your customers as our own.
Southwest Recovery is On Your Side
We know how important it is for you to get paid quickly so your business can grow. We can help you get that burden off your shoulders and keep your revenue flowing. We’re a contingency collection company, so there is no upfront cost for you to use our services. We get paid when you do. Give us a call today to learn more!