Technology companies encompass a wide range of services – your business might deal with the manufacturing of electronics, the creation of software or the production of computers or other services relating to information technology. This means that no two companies are the same, and every debt collection case we take on in this sector therefore brings its own unique challenges.
There does not tend to be anything unusual about a technology business debt collection case that warrants a different approach to that which we have tried and tested over decades to successfully collect debts in every sector. By keeping communications amicable but insistent and regular, we are able to get to the bottom of overdue debts and work out payment plans in almost every case.
Additionally, as a technology business you naturally demand excellent technical solutions, which is why we’re pleased to provide the Your Debts Online service. This performance reporting platform, accessed through the STA website, allows you to see our collection success rate, the cost of recovery to date, work in progress and the return on your investment on a 24/7 basis, ensuring full transparency.
We have had a great deal of success in the technology sector. We have been able to collect over £4 million for our clients across nearly 1,500 debts placed with us.
One of the reasons we are so successful when it comes to technology sector debt collection revolves around trade credit insurance. Many businesses within the sector take this out and are therefore obliged to report late payments or probable losses to underwriters. Our success rates for those without insurance or older debts are high, but for those who have insurance and place their debts with us within 90 days, collection success rates tend to be much higher. This means we can protect both you, as the policyholder, and the underwriter.