As a Business Services Provider, you’ve taken the time to visit us because you have lost revenue tied up in unpaid receivables, you need help recapturing that revenue, and you need to know exactly what differentiates CedMar from the more than 2000 traditional business to business collections firms available to you domestically. Our success is driven not only by our understanding of the order-to-cash cycles of our Business Services Provider clientele, but from also understanding that:
- There are distinct differences between collecting business debts associated to a tangible good i.e. “Widgets” received vs. collecting business debts associated to an intangible service provided.
- The collection of intangible debts are intrinsically more difficult to recover than delinquent invoices for “Widgets”!
Traditional 3rd party collection agencies historically produce very marginal success for Business Services Providers because their collection processes are designed for the collection of Widgets i.e. (a) Creditor sells Widget via net 30 terms; (b) Widget is received & utilized by Customer X; (c) Customer X fails to pay creditor for widget & is put on credit hold; (d) delinquent Customer X finds alternate supplier of widgets; (e) Creditor places Customer X with traditional collection firm; (f) Traditional collection firm demands payment for &/or return of Widget…simple process! In contrast, the Business Services Provider’s relationship with its clientele is far more nuanced and complex. Traditional bill collectors do not typically understand the dynamic nature of the vendor-client relationship that begins with the initial engagement and carries through various deployment phases of delivering services during the relationship life-cycle; nor do they understand how to speak to Customer X’s disingenuous efforts to devalue the quality of services delivered. We Get It!…Another differentiator is our exclusive utilization of paralegals & attorneys to manage the collection process. We do not utilize traditional bill collectors to contact debtor clients because utilization of a “bill collector” can raise real or perceived concern about tactics they may employ, and because bill collectors do not wield the perceived level of power that they did 10 – 15 years ago. Why? Millions of individuals have been:
- Educated on the reality that traditional bill collectors have very little legal authority.
- Educated on how to neutralize bill collectors;
…drastically reducing the traditional bill collector’s ability to secure payment. For example, one of the many tactics that is often taught is the art of effectively disputing a debt – even if the debt is rightly owed! This trend has lead to a dramatic increase in the number of baseless disputes alleged by delinquent clients as an excuse for non-payment, rendering traditional 3rd party collection agencies as powerless and unable to resolve due to the reality that:
- Their credibility was neutralized before contact was even made.
- Their collection process and demand notices are not fundamentally designed to manage disputes.
- Traditional bill collectors are not educated in the art of contract interpretation or dispute resolution.
Today’s educated debtors find their collection-neutralization tactics rendered useless when dealing with a credible legal professional. In the end, our collection process is driven by competency & credibility; and what this means for you is that we will almost never fail to recover past due debts where traditional collection firms experience failure on a regular basis!
