Debt is common in today’s society. For businesses, of course, your goal is to always have a successful collection and debt recovery. This will be made possible if customers can pay their debts on time, but sadly, this is not always the case.
Collection and debt recovery can be both grueling and laborious. Even though there are tons of information available for each debtor, it can be pretty challenging to sort through it all. Not to mention, we are also now living in a highly mobile society.
Offshoring collection and debt recovery is one effective solution that businesses utilize these days. And this practice has also been very helpful, especially when dealing with delinquent debts.
Offshoring collection and debt recovery
Whether you’re a startup, small to medium-sized business, or multinational enterprise, you need a steady flow of cash to maintain your operations. However, you may not have all the time on your hands to collect payments for the products and services you have rendered.
What you need is a reliable and dedicated team to handle your collection and debt recovery processes. Your collections team is a significant customer touchpoint, so it is also a vital part of your overall customer experience.
Apart from building your team, you should also be equipped with cutting-edge infrastructure and the latest technology as it affects your staff’s efficiency and productivity.
Offshoring means that you will be contracting out this part of your business to an external service provider located in another country.
Tapping into offshoring providers like Cloudstaff allows you to take full advantage of excellent talent, top-of-the-line infrastructure, and technologies. On top of that, offshoring is way more cost-effective than keeping your collection and debt recovery in-house.
How Cloudstaff can support your collection and debt recovery
Cloudstaff is a renowned remote staffing provider headquartered in the Philippines. Offshoring your collections and debt recovery to Cloudstaff gives you the following advantages:
Keeping your collections team in-house may require a hefty budget for recruitment, training, and other necessary resources. All these expenses can quickly add up, especially if you have a high turnover rate.
In contrast, offshoring to Cloudstaff enables you to save up to 70% on your overall costs while increasing your revenue. Cloudstaff has trained collections and debt recovery specialists with years of experience in the industry.
Collection specialists provided by Cloudstaff are capable of effectively persuading debtors to pay what they owe to your company. This lets you get faster results, which will also help in boosting your cash flow.
Your Cloudstaff team will take care of your entire collection and debt recovery processes. You and your in-house employees, on the other hand, can focus on your core business. More so, you will have enough time to cater to your clients and accommodate new leads.
Skilled and well-experienced Cloudstaff
Besides undergoing proper training, Cloudstaff teams are always up-to-date with the latest laws and regulations in the industry. Likewise, they are well-versed in debt collection processes and best practices.
Filipinos are worldly recognized to be proficient in the English language. Traditionally, the BPO industry in the country started in call centers and customer service.
Collections specialists employed in Cloudstaff are fluent in the English language and have neutral accents.
Improved collection rate
Having a devoted Cloudstaff team helps you cut down delinquents and write off accounts. More importantly, it helps you ensure that you have constant incoming payments.
Ready to build your Cloudstaff team?
Cloudstaff provides collection and debt recovery solutions according to your business needs. Start building your Cloudstaff team and grow your business with one of the top remote staffing providers in the Philippines!
Contact Cloudstaff today and find out more about this outsourcing service.