With the economic downturn still ongoing and firms of all sizes facing challenges, if a small business has several invoices awaiting settlement with larger firms, would they use Debt Collection Agencies if they knew there was a cheaper alternative? The answer would of course depend on the financial position of the small business and whether any of the larger firms are in administration. The Debt Collection Agencies and likewise lawyers who specialise in business to business Debt Collection would usually charge per debt taken on and so the small business would have to pay some 10% to 20% or more of each bill. If they had a Debt Collection solution that had a one off price, and one which might well be lower than any one bill payment, then would that not be worth considering?

Debt Collection Software can provide just such a solution to the Debt Collection requirements of the small business, for a purchase price of £40 upwards they can buy a Debt Collection Software suite that can be employed for any number of Debt Collection projects with no extra money to lay out. Naturally the small business will have to make a contribution to the Debt Collection projects in that they will have to appoint people to work on the Debt Collection system, whether it be in using or supporting the system or in creating Debt Collection letters. It is hoped that the Debt Collection Software will not take up all of the working time of the people and that they will be able to carry out their normal duties to some extent. The small business might well need to learn about how the Debt Collection process works and this should come from the manual that comes with the Debt Collection Software. The manual should also explain, in some detail, how to create convincing Debt Collection letters, since the small business will want the large business to take their Debt Collection efforts seriously. This assistance can be provided by explaining current laws that can be used in the Debt Collection process and dos and don’ts to use in Debt Collection letters, finally useful wording as used by Debt Collection Agencies.

A further benefit of the small business utilising Debt Collection Software is that they are in control of the dealings with the large firms and so they should be able to preserve the business relationships that might well have developed. If they had looked for lawyers or Debt Collection Agencies then they might have unknowingly come across some less ethical ones that might not be so careful how they go about Debt Collection and so might have seen their business relationships become ruined. That is not to say that there are no good lawyers or Debt Collection Agencies that would be careful to preserve business relationships, partly to preserve their own reputations and partly to hope that the small business would use them again.

By using Debt Collection Software instead of lawyers or Debt Collection Agencies, the small business should save money and by their own diligence, hard work and good Debt Collection letters should also make a success of their first Debt Collection projects.