Category Archives: Collection Agencies

An Outsourced Collection Experience is Best Handled by Omega-RMS

Collections 15How your brand is perceived by the public is extremely important in not only keeping your current customers, but also in building on those existing consumers and bringing more into the mix. It’s easy to get caught up in a social media storm should something go awry, causing damage to
your brand. This is one possible reason so many companies shy away from partnering with a debt collection company – they’re afraid of the backlash of a negative collections experience.

What they are missing out on is a collection experience far greater than what the average business owner can provide with an in-house collections department and without all the backlash.

There are many rules and regulations regarding the way you can go after debt. To be in compliance, you have to stay abreast of each and every new rule that pops up each year in every state (your level of attention to all of these rules depends on which state your debtors reside in).

Your debt recovery collection experience must focus on compliance. The laws might seem restrictive, but they actually help you do a better job of maintaining a positive customer relationship while also staying out of trouble with government officials.

You’re going to have complaints even when you uphold every letter of the law, but the more you follow a professional code, the less likely you are to have numerous complaints filed against you. In order to ensure that none of your employees are being held accountable for compliance issues, it’s best to outsource your debt collection needs.

Your customers will have a positive debt collection experience if the people trying to collect are well trained. The best collection firms will spend a lot of resources on training, just to make sure your brand is represented well and you avoid any negative impact. The goal is to get your money back, not distance your customer base from you, which is why a well-trained employee in a debt
collection firm is better at going after debt than your employees.

Customer experience has become an extremely important part of the business strategy today. Everyone is focused on a more customer-centric experience. This extends to the debt collection part of the business. Nobody likes to be called about their debt, but the top-notch firms will provide a customer experience that actually enhances your relationship with your customer base, even those who are chronically late on their payments.

If you have been putting off outsourcing your debt collection needs, you should know that you’re putting off improved customer loyalty and satisfaction, improved collection rates and reduced exposure to compliance infractions. You’re also probably putting off having access to professionals who can spot risky accounts well before anyone in your collection department will spot them.

When you partner with quality firms like Omega-RMS, llc., you’re getting involved with a group of professionals that know about training, compliance, customer-centric service and representing your brand with integrity. As a member of the Association of Credit and Collection Professionals, we’ve proven ourselves as ethical and professional stewards of the debt collection industry.
Contact us today to learn about our services and how they can boost your brand as well as your cash flow.

Collection Agencies in Kansas City: How do You Choose?

It doesn’t matter how small or large a company is; when you extend credit to your consumers, you’re increasing the chances that you’ll boost your profits. However, you’re also putting yourself at risk for unpaid receivables. What can collection agencies in Kansas City do for you?

You don’t want to stop offering your customers credit because you know that it improvesEconomy 2 customer loyalty and creates a better environment for attracting more business and repeat business. However, you run the risk of having cash flow issues due to the number of late paying or non-paying customers that take advantage of the credit you extend to them. Perhaps you’ve grappled with the decision to hire a collection agency to help you recover these losses and you’ve finally decided to pull the trigger. How do you decide which of the collection agencies in Kansas City to hire?

You can significantly reduce the number of finalists on your list of collection agencies by weeding out the ones that work in industries other than yours. Only keep the agencies that specialize in your specific industry.

If you have concerns about how the agency will communicate with and handle your customers’ debts, write down a list of questions and concerns you have and carefully monitor how your finalists answer these questions. You want an agency that will be respectful, ethical and professional with your customer base.

Don’t pick an agency that isn’t licensed to practice in all 50 states. Collection agencies have a process called skip tracing, which is completed using a database that assists in tracking people who move without notifying companies like yours where they have open accounts. Without the license to practice in all 50 states, they can’t skip trace as effectively, which means there is less chance of them recovering old debt.

Mistakes can happen, regardless of how reputable the collection agency is, which is why you need to ask your finalists if they are insured. Should a debtor decide to sue, you’ll be protected, as will your collection agency.

Make sure your debt collection agency is clear on how you’ll be charged for their services. Ask about fees that might come up unexpectedly. You shouldn’t have to find out after you’ve signed up with them that they have setup fees to get you started.

A good way to research the background of the agency is to see if it has violated any part of the Fair Debt Collection Practice Act. The act was established to protect debtors from unfair collection practices, and all reputable agencies will follow the act’s every word. Thousands of complaints are filed every year. Make sure the finalists on your list aren’t getting more than their fair share of complaints.

Omega-RMS, llc., has a rich history of keeping in compliance with laws governing debt collection practices in every state. As a member of the Association of Credit and Collection Professionals, Omega employees continually prove to our clients that of all the collection agencies in Kansas City, we are among the most reputable and well respected.