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As a small business owner, time is one of your most precious commodities. In order to maximize the efficiency of your company, you (and your employees) need to be devoting your attention to product development, marketing and raising capital so you can keep growing. But there are also those day-to-day activities that can be a complete time-suck, taking manpower and focus away from what you need to get done. In today's economy, many businesses are running with bare bones staff in an attempt to save that other precious commodity-MONEY
. With fewer employees carrying a heavier workload, businesses need creative solutions to make the most of their time and resources.
One way to free up time and human resources is by outsourcing your accounts receivables. There are quite a few benefits to outsourcing your accounts receivable.
First of all, outsourcing accounts receivable can save you tons of time and money, and we all know that these are two things a start up or small business never has enough of. Your staff has better things to do than create and send statements to clients, let alone take even more time to follow up with past due accounts. When employees are tied down with these duties, in addition to other daily responsibilities, their focus is on getting these things done, rather than looking at how to continue growing. Letting someone else take over these tasks, let your employees focus on whats really important to your company's success.
Many companies outsource their F&A, and it is generally considered good business practice. Outsourcing authorizes a third party to run your receivables in an efficient, timely manner, and provides valuable data that can help streamline your business. Simplifying your accounts receivable processes through outsourcing is a cost-effective way to shorten the time it takes to close your books and help identify processes that work best for your company.
Another benefit of outsourcing your AR is that this is the only job that the company is doing. As you try to juggle all of the demands of owning a business, those in charge of your receivables have only one concern, which is your money getting into your hands. You don't have time to chase down these delinquent payers, but if you outsource it, someone else will be handlig this for you. Small businesses need access to the cash that they have coming in from customers, so having bills paid on time can be crucial to their success. For most small businesses, accounts receivable portfolios often make up anywhere from 20-35 percent of the company's assets. If these are not collected in a timely manner, that can put a business at serious risk, especially when you consider the money lost on late accounts. For many companies looking to grow, finding capital is a major challenge. Often money is tied up in accounts receivable and isn't available when you need it. How frustrating to know that the money is there, but can't be accessed.
ECCM is your go to outsourcing accounts receivable company that can take away all your worries. As a business owner, time and money are your most coveted resources. Outsourcing AR frees up both,and if you need quick access to funds, outsourcing to a factoring company like ECCM can get you the money that you need right away, while lightening the workload for you. Look no further for a solution to all your problems, ECCM has a proven strategy that has been running for over 10 years and is still going strong. ECCM will handle your accounts from the beginning till the end without any hassels. You will still be in full control of the accounts and all we will do is the running around for you. Our main function would be to take on a new account and manage it right till the end when payment is done and you have received all that is owed to you. This way, you will not have to worry about all the functions in between to try and receive your money. If this service does not work for you, do not stress, ECCM has other service packages that you can choose from as well as a tailor made solution package to suit your companies needs best.
What are your thoughts about outsourcing your accounts receivables?