With so many businesses struggling with cash flow, it’s important that we eliminate the stigma associated with debt recovery specialists.
The popular perception of forceful, aggressive collectors knocking on doors and threatening debtors with baseball bats is very much a thing of the past in the debt collection industry. Nowadays, debt recovery operates within strict industry-standard guidelines.
Collecting on indebtedness in 2021, means acting with the highest degrees of fairness and integrity. By using a considerate and professional approach helps negate preconceptions about the nature of collections, removing the negative connotations and allowing for an open discussion regarding the debt.
This increases the likelihood of repayment while preserving the client-customer relationship and is one of the key benefits of outsourcing to STA International. STA also use sophisticated investigative techniques to achieve the required results by customers repaying their debts and increasing cash flow.
How has the debt collection process changed?
The debt collection industry has adapted considerably over the last 25 years. Traditionally, the main source of recovering your money was through a debt collection agency which generically had a poor image. In addition, the industry was poorly regulated in the ways debt collection agencies went about their work.
Ultimately, the change in the industry centred on new technology. Technology developed and took over the industry. New bespoke case management and collection systems, predictive diallers, email, texting, behavioural scoring, all enhanced the collection routines to improve efficiency. That said, the primary focus remains recouping debts. The advance in technology allows us to do this in a much more effective way, whether to recover a few accounts or a large volume of accounts.
What makes us different?
Here at STA International we understand that maintaining client relationships are equally as important and that’s why we are best known for our amicable debt recovery. We understand that recouping the debt is priority, however, we also believe this should be always done in a way that preserves the relationship you have with your clients.