A High Level View of the Collections Landscape
Your Options When You're Owed Money:
Nothing
Write Off Your Accounts
ROI: $0
ouch
Guaranteed to lose
Let the bad guys win
Missing out on revenue
Lowers morale
Collection Agency
Big Risk, Low Reward
ROI: Very Low
or nothing
Low or no payouts
Bad communication
Repeating mistakes
Reputational harm
Attorneys
Long, Uncertain Process
ROI: Uncertain
plus court fees
Fees, court costs
Legal route is very slow
Judgments aren't money
Morale victory only
Biggest ROI
Deal Enforcer
Highest, Fastest Payouts
ROI: Highest
by a mile
Big, fast payouts
VIP communication
Nothing out of pocket
Integrity, ethical, legal
Perks, extra services
Mutually-aligned
Why Collection Agencies Are Dying
The Top 5 Reasons Smart Companies Don't Use Them Anymore
Low or No Payouts
The reality is, collection agencies rarely collect any money from debtors. Or they may settle for a small amount without your consent. Or they collect and don't tell you. And worse. Your interests are not aligned with theirs. They do as little as possible to collect the easy accounts by sending letters and making calls then give up. Then when you want to try something else, they want to bill you for taking the account back.
Bad Communication
Dealing with collection agencies is a nightmare. You have to call a 1-800 number, your rep may not know who you are, doesn't know what's going on with your accounts, doesn't give you straight answers, doesn't update you regularly. It's a frustrating experience with a small or non-existent ROI.
Repeating Mistakes
Your ROI is so low with collection agencies because they do nothing to help you understand WHY your accounts are not collecting. So you keep making the same mistakes like placing accounts at the wrong time, fail to update your client contracts and more that they keep hidden from you.
Reputational Harm
Collection agencies can be a menace and do more harm than good. Many of them break rules and cross lines that end up aggravating your debtors, causing them to write bad reviews about you, and you still probably don't get paid. So it's actually a negative ROI.
Why Attorneys Aren't the First Choice
The Top 4 Reasons Smart Companies Don't Use Them Anymore
Fees and Court Costs
When you're not getting paid, the most emotional reaction is to say "sue them!" and hire an aggressive attorney. But this usually involves costs such as a retainer, and court filing fees, and sometimes some other associated costs - so you're going out of pocket on top of already suffering a loss.
Legal Route is Very Slow
It's a long process to go through the legal system, meanwhile the clock is ticking and you want to keep your cashflow strong. Attorneys generally do not have the same resources such as sending out the top in-person debt collectors, so they resort to phone calls and letters, which doesn't usually yield results quickly.
Judgments Aren't Money
Let's say you go through the entire legal process, get to court and win a judgment. Then what? Your attorney will see this as a victory, meanwhile you STILL haven't received any money yet. You're still carrying a loss. So at this point, many months or years later, you still need someone to turn your judgment into money.
Morale Victory Only
When you win a judgment in court, it's a moral victory and you have proven you were in the right. This is a great morale victory, but still isn't money in your pocket. If you enjoy the legal process and want to cause suffering to the other party, and don't have anything better to do, then this option may work for you.
Why The Highest ROI Is With Deal Enforcer
The Top 4 Reasons Smart Companies Made the Switch
Highest, Fastest Payouts
Think about it: instead of simple letters and phone calls, your debtors can be visited IN PERSON (with your permission of course). Imagine the psychological effect of showing up at their worksite, their office, wherever they are, over and over. It's a grind. And it's not pretty. But it's the most lucrative option for you to get paid.
VIP Communication
You want to know what's going on. Instead of being left in the dark, you get one central point of contact who is quick with email, you can text, and you can book meetings with anytime. You also get multiple personalized email updates monthly, and can get 24/7 portal access. It's the VIP experience you deserve.
No Out of Pocket Expense
Deal Enforcer covers ALL costs associated with getting you paid so you don't go out of pocket. We invest the industry's TOP resources so you have the highest probability of getting paid the biggest amount, ASAP. There's no upfront, hidden or ongoing fees - guaranteed. We only get paid when you get paid.
VIP Perks & Exclusive Services
For you to get the highest possible ROI, you must do everything to optimize your AR process. Deal Enforcer helps by upgrading your client contracts with the right verbiage, clauses and terms; looks up companies/people for you; coaches you how to streamline your processes, lets you know the optimal time to place accounts, and tips and tricks your competitors are using to collect the most possible money.
