September 12, 2019
Aging accounts are stressful on any business but taking the next step to hire a 3rd party collection agency can remove the anxiety of aging accounts, and will actually increase your bottom line! But what questions should you ask when looking for the right agency for your pest control business? After all, who really puts thought into what makes up a reputable, diplomatic 3rd party collection agency? Below are some questions to help you find the right collections agency for your pest control business.
Is the 3rd party collection agency familiar with the pest control industry?
Often times, collection agencies find themselves assisting businesses in a specific niche. As with any business, there are nuances to collections, and you want to go with a company that understands what you do, what your billing process looks like, what the industry averages are, and more. When interviewing an agency, ask what other clients they have worked with in your industry, if they have any case studies around those clients, or even if they have a client that would be willing to share their experience with you. Also, asking what kind of results they see within your industry is key to see if they truly know what they are talking about, and to also give you an idea of what to expect when handing over your aging accounts.
What is the process for passing over aging accounts?
Hiring an agency that understands that you are busy and wants to help alleviate any additional work on aging accounts is key. Ask the agencies you are interviewing what the process looks like when passing along aging accounts. Do they have a portal for uploading and tracking? Do you have a point person within the agency that you can reach out to for reports, updates, and with any questions that may come up through the process? Make sure that they intend to value your time, as well as your employee’s time by understanding the process and making sure that your convenience and ease is the most important part.
What methods does the agency use to secure past due payments?
In order to keep your customers during and after the collection process, it’s imperative to hire an agency that understand the value in repeat customers. When learning more about different agencies you are considering for hire, ask them what systems they have in place in order to put diplomacy first in the collection process. For example, our industry partner A.R.M. Solutions has the term “diplomatic approach to collections” right in their tagline. Ask what that looks like, why that is important, and what results they see by sticking to that statement.
What fees do they charge?
Every agency has a different pricing strategy, so understanding what the cost of the collection agencies’ services is also really important. Take a few of your agency accounts as an example, and ask the rep from the agency to explain how much you would collect, if they were to collect on an account in a certain amount of time. Also, make sure to ask if they offer any other “non-standard” collection programs (like A.R.M. Solutions’ Flat-Fee Program) that could potentially save you even more money!
Hiring a 3rd party collection agency doesn’t have to be complicated! Make sure that you are prepared for your interviews with the appropriate questions and the right agency for your pest control business will be made apparent.
***PestRoutes proudly works with A.R.M. Solutions as our preferred 3rd party collection agency. To learn more, visit www.armsolutions.com or email our PestRoutes/A.R.M. Solutions’ rep, Andrea Dahlgren at firstname.lastname@example.org. Don’t forget to mention PestRoutes for preferred pricing!