These can be bad times for small organisations trying to make it during the financial situation even though the government says it is trying to assist small organisations. The finance houses have been pressurised to assist small organisations with loans but to date this has not been forthcoming, unlike the bonuses paid to top bankers. Given this situation, when a small company finds that an account sent to a large company for which it has done projects or furnished items, has now gone past the final payment date and still is unpaid. The small company could have accounts of its own to close, perhaps tax accounts and the last thing a small company wants is to get in the tax man’s bad books, for the spectre of the grim reaper holding a winding up notice could be the stuff of nightmares. I hope that referring to “tax man” in the last sentence does not offend the ladies for I am sure that there are many female tax inspectors who would be only too pleased to use any tactics to get the revenue money.
The small company could well be tight on money or if they have previously used solicitors or Debt Collection businesses, they could be reluctant to pay the fees they charge, even if they are paid as a sacrifice from the final payment. Even if the solicitors or Debt Collection businesses have skills in business to business Debt Collection and their success rate is good, the fees remain the same.
For such a small company an option is out there but only if they are happy to put some work in themselves, the answer could be Debt Collection Software. For a payment of under £100 the small company can buy a good Debt Collection Software suite and for their part they will need to set aside adequate resources to give the Debt Collection project a chance to work. There will be a cost in time and effort in finding out about the Debt Collection process but the Debt Collection Software should come along with a user guide that should provide this information, especially any current Acts of Parliament that the small company can use. The important part of Debt Collection is that the large company needs to understand that the small company needs to have their account paid and puts this forward in an unemotional and professional manner. This is achieved by creating Debt Collection Letters, which form the heart of the Debt Collection process and the Debt Collection Software should have a good tutorial in how to generate good quality Debt Collection Letters. The Debt Collection Software should also provide a set of samples which should show what the small company should generate for each stage of the Debt Collection process. The small company could use these samples as the starting point for their actual Debt Collection Letters as they progress through the Debt Collection process. The small company should have access to update the samples to include their own company details and icons as required as this would add to the professional look of the real Debt Collection Letters.
It should be possible, by use of the Debt Collection Software, to generate good Debt Collection Letters that should persuade the large company to pay the account and keep up the good business relationship that they have with the small company.
