For the average small business in Queensland, that represents an extra $10,000 to your bottom line in a single month. What’s more, demands for payment are usually more effective in June than any time of year.
According to Angela McDonald, a Brisbane-based director of debt management firm Optimum Recoveries , debt collection services are not just for big companies.
“Implementing an in-house campaign is absolutely better than not following up at all,” she said, “but more and more small business owners are choosing to outsource to professional collection agencies, in order to recover debts from a few hundred dollars to tens of thousands.”
With Australia lagging the rest of the world in terms of late payments (even South African and Mexican firms pay faster), it is perhaps unsurprising that small business billers are turning to outsourcing their debt recovery.
I asked Angela for five things the average Queensland business can learn from how her company manages the B2B debt recovery process READ MORE