Accounts receivable is money owed to you by customers for goods and/or services that have been delivered, provided or used, but not yet completely paid for. Accounts receivable are created when a customer purchases your goods or services but does not pay for them at that time, or pays less than the full amount owed.
Typically, businesses with day to day accounts receivable usually issue invoices for the products or services at a later date or upon completion of the contract or agreement. Accounts receivable are recorded in a business's accounting data as an asset. If a business has too many accounts receivable, it may not have the liquid cash needed to pay basic operating expenses A/K/A bills. It's important to manage accounts receivable in order to maintain strong financial business health.
Many businesses specialize in their craft and would like to focus on the things they do best. Many times a company fails not because they did not provide a good product or service but, rather they were owed too much for too long. Accounts receivable management called by many names; A/R, A.R.M., AR Management, receivables, etc. They are almost the same thing except for one little HUGE difference. When you seek an employee for your company to manage your accounts receivable dept. did you want an AR Clerk? or AR Manager with Full Cycle accounts receivable management knowledge and ability? The difference is huge!
We take accounts receivable to an entirely different level. When you calculate how much you are spending on your current A/R dept. expenses? How much money is left unpaid? what are your margins beyond 90 days delinquent? Do you have 120 days delinquent or more? How about 180+ days DSO? Were you going to write off the money owed on taxes instead of collecting your money? Maybe your A/R department or personnel is overwhelmed? Most employees will not admit they are in over their heads. Maybe your accounts receivable are well managed except for just a few pesky accounts. WE WILL HELP YOU NO MATTER THE ISSUE!
Compare our low contingency fee rate vs. your current setup ('SOP'), to costs expended for day to day employees, vs. what we can do for you but, instead much improved DSO's without the W-2 employee cost that would be spent in vain chasing old unpaid invoices, instead they can focus their time, (the salary you are paying) more productively. DSO maybe a foreign term to some folks who call it by other names depending on their industry. Days sales outstanding ("DSO") basically the account aging term for some.
Do yourself and your business a favor and let us chase the old unpaid invoices without paying anything by the hour or if we do not collect. No Collection No Cost Period! What? Did you hear that right? Consulting Recovery & Investigations, LLC. "CRI" for short is offering your business (Small Business or Large Business) our accounts receivable services on a very low contingency fee only basis.
Other than securing funds owed on delinquent invoices, what else does CRI offer that can save the company money and raise our P&L?
We do everything "Full cycle AR" for example; Accounts Receivable management duties can include, cash application, Journal/ledger entries, reconciliations, adjustments in an order to cash atmosphere. accounting, budget planning and control, cash management, treasury, and tax handling functions. Skills associated with example resumes of Accounts Receivable Managers include settling all outstanding invoices, billing disputes regarding invoicing, processing checks for daily banking deposits, and performing credit history reporting from credit bureaus for new commercial accounts. We can even help strengthen your front end credit department process and contracts, without impacting your sales, if you are interested. We are able to negotiate effective and intuitive programs that save you expense and boost productivity substantially!
This is the beginning of the customer's life cycle with your company. On paper everything looks good, and you are counting the business as money in the bank. The "front end" is where you can really protect your back end. crilegal.com offers contract strengthening, credit department evaluation, efficiency suggestions, and are overall business development consultants.
Depending on several front end factors this part of the process will determine what type of customer you are dealing with and who knows they may have customers that haven't paid them the money they planned on using to pay your invoices with. It is often a chain reaction. At which point do you draw the line? 90 days is too long and the longer you wait the less likely you are going to be paid.
If your DSO 90+ are over 5-6% there can be improvement but, anything 7% or greater, you really should call us without a second thought. Really, we would like to talk with you regardless, because there is surely something we can do for you of value, that is either free or pretty close to it, and that we are pretty sure, you are unaware that we even offer.
It's Easy To Place A Claim With Us Online, Via Email: AccountPlacements@crilegal.com and/or by Phone (844)875-2897 Ext: 101 or To Get A Fast Quote To Handle Your Collections email or call us now! We are here for you!!
Consulting, Recovery & Investigations, LLC ("CRI") provides professional commercial (B2B) collection services to commercial credit grantors in virtually every B2B market. To engage our services, please click on the Claim Form button below, complete the form and submit it to get started. We will do the rest!
A company’s Accounts Receivables are usually its second, if not its first, most important asset on the balance sheet. But rather than just a number, it reflects all the resources a company harnesses to manufacture, ship, and sell its products, all on a promise it will be paid at some point in the near future.
At Consulting, Recovery & Investigations, LLC, we completely understand the frustration when an account is not paid. Depending upon the amount outstanding and the time past due, not only is cash flow impeded but a company’s financial well being can also be severely impacted.
With the latter in mind, Consulting, Recovery & Investigations, LLC’s Commercial Collection Services comprise the following goals, standards, and procedures:
Your Company Is Unique – We pride ourselves on learning the fine details of your company’s business and industry, which in turn enhances our understanding of your commercial collection needs and how they fit into your total credit risk management system.
Your Customers Are Our Customers – As your representative, we are very sensitive to maintaining the highest level of professionalism towards your customers in the careful collection of every account.
Experience and Knowledge Are Indispensable – Our diverse team of certified collection professionals has extensive experience, knowledge and expertise in the fields of business law, manufacturing, retail, distribution, export, construction, agriculture, and many other industries that support the persuasive and effective discussion towards the resolution of your claims.
Superior Technology Is Imperative - From the time your claim is submitted, our secure and proprietary online system allows you to monitor the progress of our collection activity and remittances so that you always know the status of how your claim is being handled.
Amicable Collection Is Priority Number One – Listening, understanding, and responding appropriately to the reasons as to why a customer is not able to pay or does not want to pay is the real art in the collection process. Constructively advising on how to resolve various issues that are impeding a customer’s payment is part of our persuasive expertise in bringing about a speedy and amicable collection result.
Resolution of Disputes Is Key – Subsequent to receiving complaints against the product or service in writing, every effort is made to resolve them without litigation. All legitimate complaints are closely followed to their resolution in order to remove any objections that the customer may use to withhold payment.
When Suit Becomes Necessary – After all efforts have been made to resolve an account amicably and it has been determined that suit is the next step, all the steps necessary to proceed with the litigation of your claim are outlined for you. This includes a detailed estimate of the costs involved and the general timetable to manage your claim through the suit process. As CRI,LLC has been working with highly vetted and bonded creditors rights attorneys throughout the U.S. and globally for the past forty years, every attorney chosen to handle your claim is an extension of our own core values and operation.
We Take Over the Litigation Process – All suits are carefully monitored, status updates are posted immediately, and no decisions or settlements are made without your written authorization. In other words, we remove the hassles that are often associated with processing a claim through the court system.
We Welcome Your International Claims – Through our membership in the Commercial Legal Alliance of America (CLAA), we work closely with other certified agencies and attorneys in over 120 countries whose operations and values are strictly in line with the CLAA's code of ethics. As your international credit & collection “partner”, we are able to confidently cross through the language, culture, and legal system regardless of where in the world your customers are located.
Being Professionally Accredited Is a Must – As a certified member of the CLAA and other professional associations, we have forged a reputation of integrity and results within a highly competitive industry.
Total Client Satisfaction Is Everything – Establishing, building and maintaining a relationship of trust and reliability with your company is our number one goal. We will always strive to fulfill your commercial collection needs that in turn will increase your cash flow, minimize the risk of selling on credit, and support your long-term growth and profitability.
Customer accounts that fall under an early stage collection category are those that are not considered delinquent but rather require a periodic reminder and push to pay. These are the ones you might consider your “always slow but good accounts” or for some reason have become uncharacteristically late. When your credit and collection department does not have the time to manage and follow-up on these accounts, our Early Stage Outsourcing Services is the answer.
Letters & Statements – Whether to only a few, a few hundred, or even several thousand, sending out a personalized note that kindly requests payment may be all that is required to prompt a past due customer to pay.
Depending on each client’s products and services, a system of customized past due letters and statements will be carefully crafted to encourage customers to fulfill their payment obligations directly to your company on a timely basis. This highly cost effective administrative support service can easily reduce your own internal costs by 50-70%.
Soft Touch Audit – Not every client has the manpower or resources to watch over a multitude of accounts that require a personalized collection touch. For many clients, our Soft Call service is a simple telephone call, either under your name or ours, to softly expedite payment.
The purpose is not only to confirm when payment will be made, but to also uncover any issues that might prevent payment. Finding out if there is a problem early on against the product or service will support a speedy resolution.
Through our Early Stage Outsourcing Services, not only will past due accounts be collected faster, customers will be gently reminded of your sales and payment terms along with other credit risk management ideas that contribute to enhancing your customer relationship.
Bankruptcies, mergers & acquisitions, corporate turnarounds, and asset seizures by secured lenders or government authorities usually involve the liquidation of a wide range of portfolios, from a few hundred to thousands of accounts receivable records.
Hitting the Ground Running – We can have our professional staff on-site at the engagement location within 24 hours and through our cutting edge technology, implement a highly cost effective valuation and recovery process. All activities, compliance requirements, and subsequent litigation will be executed in accordance to our strict code of collection procedures.
Target clients – These Include creditors, secured and unsecured lenders, banks, credit unions, asset based lenders, Chapter 7 and 11 bankruptcy trustees, government agencies, turn-around managers and firms, law firms, corporations divesting of regional operations or business units, and debtors in possession.
More Profitable - A portfolio liquidation engagement will on average net our clients a much higher return rather than selling the portfolio at a fraction of its value to a debt purchaser.
Credit Reports – Over the years Consulting, Recovery & Investigations, LLC has found that Experian's business credit reports provide a reliable, accurate and unbiased view of a company’s financial health. As a leading credit information resource provider, Experian has credit information on over 27 million credit-active companies in the U.S. alone.
In addition to providing Experian reports at a very reasonable price, through a variety of several other credit information resources, Consulting, Recovery & Investigations, LLC is able to also provide actual trade and debt information that will greatly augment what is provided on an Experian credit report.
Investigation Services – Verifying credit worthiness is not only about looking at the financial numbers, it’s obtaining information between the lines that will often be the most telling as to a customer’s credit worthiness. Consulting, Recovery & Investigations, LLC works with several investigative resources to provide background checks, asset searches, bank account verifications, and many other kinds of investigative requirements.
In addition, Consulting, Recovery & Investigations, LLC is able to provide on-site visits to determine a debtor’s physical existence and viability. Depending upon the debtor’s location, within 48 hours Consulting, Recovery & Investigations, LLC will either send one of its field investigators or work with one of its bonded investigation partners to verify a debtor’s physical status.
General Consulting – As every company is a work in progress, we are often asked to assist our clients on a wide range of issues that are directly or indirectly impeding its sales, cash flow, and general operation. From brainstorming meetings to audits to well developed improvement plans, our goal is to be the catalyst for positive and effective change on many levels.
Credit Policy Creation – A credit policy is a reflection of all the procedures, controls, tools, products, services, and systems that a company implements to maximize cash flow, minimize the risk of selling on credit, and expand sales safely. Over the decades, Consulting, Recovery & Investigations, LLC has been helping clients to create and implement a cost effective credit policy that clearly supports an invaluable quote to cash road map in minimizing a wide range of credit and collection issues.
Industry Trends & Developments – Having our fingers on the pulse of the laws, regulations, and changes within our industry is imperative. Whenever there are new pronouncements, we periodically hold webinars or seminars to inform our clients of how these changes may impact their credit and collection environment and needs.
Accounting & Finance Fundamentals – This training is composed of seven parts for introducing the basics of accounting and finance. The overall purpose is to help individuals apply accounting and financial fundamentals to their own operating statements.
Who Comes to Our Training Events – Attendees at many of our events have included CFO’s, Controllers, Credit Managers, Sales Managers, and Credit and Collection Staff. Our trainings and seminars range from one hour to a full day and cover topics such as:
Collection Strategies, Best Credit Risk Management Practices, Financial Statement Analysis, and International Collection Challenges.
It's Easy To Place A Claim With Us Online, Via Email: AccountPlacements@crilegal.com, by Phone (844)875-2897 Ext: 101 or To Get A Fast Quote To Handle Your Collections email or call us now! We are here for you!!