The key to effective cash flow management is early intervention. The earlier in the delinquency cycle you forward an account to a reputable third party, the higher the recovery results. And you’ll free up more of your staff members’ time to do what they do best — service your customers.

When choosing a third party, some key considerations include whether it:

• Specializes in the propane industry. The company is familiar with your unique challenges and knows how to communicate with your customers. Ask about references and endorsements.
• Focuses on customer RETENTION. You’ve taken steps to ensure positive communication while trying to return accounts to good standing. Your third-party resource should do the same.
• Works on a fixed-fee basis. Some FIRMS can charge 33% to 50% CONTINGENT fees, which makes early placement cost-prohibitive and any recoveries NOMINAL.
• Offers comprehensive services. Does the company perform courtesy calls, first-party billing, and third-party collections? The more your partner can do on your behalf, the less the burden on your internal staff.
• Guarantees results. Most business owners wait to engage a third party to avoid throwing good money after bad. If you work with a fixed-fee based service that guarantees results, you can get a substantial return on your INVESTMENT.

The key to effective cash flow management is early intervention. The earlier in the delinquency cycle you forward an account to a reputable third party, the higher the recovery results. And you’ll free up more of your staff members’ time to do what they do best — service your customers.

When choosing a third party, some key considerations include whether it: