When businesses form, the plan is to stick around for the long term and make a solid impression on the industry it’s in over the years. For any business with success goals, maximizing revenue collection is crucial for maintaining a healthy bottom line and staying on track.
However, managing accounts receivable and collecting past due accounts can be a major undertaking, especially for organizations focusing on their first pivotal years without large credit and collections departments.
Accounts fall behind, and collections are an all-around industry solution that helps businesses stay on top of their finances. However, without experience on your side, chasing down past-due accounts can become a job in itself. This is where partnering with a professional third-party collections agency like Lockhart, Morris, and Montgomery (LMM) can provide immense long-term value.
Settle Delinquent Accounts With Ease
One of the biggest benefits of working with a collections agency is settling past-due accounts and getting back on track without adding distractions to your already busy schedule.
At Lockhart, Morris & Montgomery, highly trained and experienced receivables management staff have expertise in working with all types of customers and clients to secure payment on delinquent accounts.
With deep knowledge of collections best practices, our national agency applies the optimal mix of compassion and negotiation tactics to get customers with overdue balances to pay.
When this happens, you no longer have to stare at glaring past-due statements hoping your customers will pay on their own. Let our efforts lead to the settlement of many accounts that would otherwise have to be written off as bad debt.
We’ll handle your accounts. You just worry about your next big industry moves.
We Help You Stay Financially Afloat!
Settling past-due accounts means getting revenue that would have likely gone uncollected. This directly translates into improved cash flow, providing your business with capital to reinvest in operations, inventory, marketing, and other areas.
Letting unpaid balances go 30, 60, and even 90 days puts you on the unfortunate fast track of struggling behind closed doors. Don’t let your business’ light flicker and fade before it’s had a chance to illuminate your industry.
Reach out to Lockhart, Morris & Montgomery for maximum recovery of owed revenue. Our commercial collections services help give your company the working capital and cash flow needed to properly manage and grow its enterprise.
Reduced Collections Costs
Taking time to properly navigate the complexities of collection can be costly on its own. From taking time away from your daily obligations to hiring an in-house collections department and investing in advanced collections tech, the costs add up.
Lockhart, Morris & Montgomery can help you alleviate all of these costs by putting our expertise to work for you.
To maximize efficiency and productivity, while saving you money, our agency has invested in advanced software, predictive analytics, CRM systems, and more, to make investing in our help an affordable, effective solution.
Maintaining Customer Relationships
Even the most loyal customer can fall behind, but that doesn’t mean you need to cut them off from future business with an aggressive collections process.
Attempting to collect on past due customers internally can sometimes sour business relationships that brands need to further growth in an industry.
We are highly trained in maintaining professionalism, striking the right balance between firmness and empathy, and preserving customer goodwill throughout the collections process. Our team acts as an independent third party to secure payment while allowing the business to maintain constructive customer relationships.
By leveraging the customer service expertise of Lockhart, Morris & Montgomery, organizations can often collect on past due accounts without damaging end user relationships or brand reputation.
Compliance and Security Keeps You in the Clear
From early-out to late-stage collections, navigating the complex legal, regulatory, and security requirements involved in debt collection can represent a challenge for companies without legal and compliance teams.
We have specialized staff well-versed in adherence to legislation like the Fair Debt Collections Practices Act, FCRA, HIPAA, and state-level requirements.
We’ve substantially invested in data security, ensuring we safely manage sensitive information related to customers.
Through our rigorous compliance and security infrastructure, Lockhart, Morris & Montgomery allow organizations to mitigate risk and avoid potential legal issues or data breaches.
Experience the Value of a Strategic Partnership With Lockhart, Morris & Montgomery
Overall, partnering with a professional collections agency like Lockhart, Morris & Montgomery delivers immense strategic value for organizations across industries. It enables maximizing revenue recovery, cash flow, and cost efficiency while also providing access to advanced technology and specialized capabilities.
By putting in place the foundation of smooth, secure collections, we can help you pursue growth with the security of knowing that we have your past due accounts receivable under control.
Does your company need help recovering past-due accounts? Contact us today to learn more about our third-party collection services.
