3 Vital Tips For CPA’s And Accountants To Consider Debt Collection Agencies For Their Past Due Clients (online business incorporation)
By David Montana
CPA’s and accounting firms provide very significant and valuable services to all size organizations. Small business owners, as well as major companies and corporations, depend on their and expertise. This is particularly true during tax season.
As federal, state and local governments require businesses to maintain accurate and timely financial reports and statements, most organizations rely on accountants to organize these reports.
Though, while helping their business customers be more profitable, its very common for CPAs to experience cash flow issues of their own, with past due accounts from some of their delinquent business customers. This is particularly true during the very hectic and busy tax season.
Below are three key points to consider why accountants should turn over their unpaid receivables to a debt collection agency:
The Depreciating Value Of Money Over Time
As a CPA, you’re very aware that past due, uncollected money from services already rendered decline in value as more time passes. Not only do you allot valuable time, staffing and other resources to chase after past due accounts, but it also means this is time taken away from attracting new customers.
Turning over delinquent, non-paying receivables to debt collection agencies is a wise and inexpensive business decision. In addition to being in the recovery of delinquent accounts, debt collection agencies are better equipped with the professional staffing, resources, software and other equipment needed, and they can do this much cheaper than can be done in your company.
Generating income is your primary competency. Activities that take you away from those core functions, also take away the focus from generating revenue.
Increase Your Profit Margin Without Acquiring New Customers
As previously stated, you know how costly it is to draw new customers. Its common knowledge that spending for advertising and marketing is necessary for businesses to acquire new customers. Though, many businesses tend to see advertising as the only means to gain new customers and grow already narrow profit margins.
Often overlooked is the tremendous value lying dormant in your uncollected past due debt. It should also be mentioned that when taking in account your past due debt, youd have to almost double your new business volume just to break even.
Turning delinquent receivables over to a debt collection agency is far less expensive, and yields predictable, positive results. Monies recouped here will produce greater net profit to your accounting firm. Money spent on marketing/advertising, while ignoring your past due receivables, is not spending smart money.
Adding Value For Your Business Client
Businesses are always seeking ways to trim costs and save capital.. As their CPA, you can show additional ways to save, advance cash flow and improve your customers’ financial bottom line.
Teaching them the importance of turning over delinquent receivables quickly when internal collection efforts prove unsuccessful, you make them see the cost savings in lost opportunity dollars, the depreciation of unpaid debt over time, not to mention the savings from reduced internal staffing and resources.
This is even truer, if you are also seeing an improvement in your own business efficiency and increase in your own cash flow.Showing your business customers how to further save money and increase their business bottom line will put you in even better standing with them. It also makes you stand out from others in a very competitive market who similar accounting services.
David P. Montana has published widely and worked as a business advisor in debt collection agency services three decades. David provides additional beneficial tips and resources about debt collection procedures for accountants.
The Changing Face of Web Marketing
By Francesco Pratt
Almost everyone from interactive advertising agencies to any web advertising agency worth its salt to business owners who are looking to turn their online presence into a revenue-generating business venture has heard of “search engine optimization”, although they all may have half baked ideas about what exactly it entails.
The earlier practice was to select some keywords, place them (or stuff them, as was the norm earlier) in the web content, throw in some meta tags (again stuffed with keywords), submit the website in directories and exchange of few links with other sites.
But that practice has for long been on its way out. Neither is it enough to make your website search friendly enough, not is it looked upon favorably by either the search engines or your customers.
Typical search engine optimization is not enough any more to established your online presence or your brand. With Web 2.0 firmly in and Web 3.0 peeping on the horizon, these are times to let people, the end users take the decision, take your message forward in so many shapes as Web-video, web-audio, web discussions, articles, blogs, forums, postings in social networking sites (SNS) and what not.
SEO in these times is about delivering the marketing message to the targeted audience, not just make it SE friendly. If latter is your choice, or you are still stuck in the old method of SEO, you will end up corrupting or distorting the message by techniques aimed at attracting search engine robots. This way you will drive away real people who may actually be potential customers.
8 Milestones To Success
With Web 2.0, audio and video content have become very effective method of delivering marketing messages over the Web. But before you as a web
marketer jump on to the bandwagon, do go over following points to ponder:
(a) These multi media messages should not be cost prohibitive so that even small and medium-sized companies could afford professional Web-audio and Web-video. They are the real revenue earner for you.
(b) Remember the website design is about delivering the marketing message effectively and unequivocally and not just search engine optimization. This point is particularly important for web design firms who double as web advertising agencies.
(c) Professionally done Web-audio and Web-video requires more than just the ability to use a video camera. So avoid a rush job as professional multimedia story-telling requires a unique set of creative skills and technical ability.
(d) Make sure that all messages whether on the web or offline confirm to each other whether you have been developer of all these messages or not.
(e) Evaluate business opportunities in the broader sense of marketing. Build viable partnerships by sitting down and taking a hard look at how various factors might complement your message.
(f) Don’t ever forget that the web is used by 87% of Internet users today to research goods and services and that extra knowledge is not available anywhere else. So do give the visitor something worthwhile. Ask yourself while designing a website or any marketing campaign, what as a user am I getting and will it add value to my life, career, business, etc.
(g) Spend considerable time to analyze what the competitors are doing. If they are successful you would know why, and if they are not you would know what to avoid.
(h) Do spend time to make a beautiful web site that is attractive and add value to the visitor, but it will all be wasted effort if it does not make it easy for people to contact your client. Take time to build a site that lets people communicate with the client. Very fundamental, but equally necessary and ignored many a times.
All this sounds great but how and who can implement the strategies. Pay attention to what those old marketing warhorses are saying. Web or not, the fundamentals of marketing remains right there, and companies with experience in marketing and advertising along with providing web development services are best equipped to show you the right and time tested way to do things.
These guys may not flaunt the latest PDA or be rather old fashioned in their sense of fashion but they have years of experience building successful campaigns behind them.
Learn about 40th birthday celebration ideas, 70th birthday ideas and other information at the Knowledge Galaxy site.
Your Resource For Incorporating A Business Online
LeaderTask - smart company management
By Abramovsky Alexey
What does the success of a company depend on? It may take quite a while to enumerate all factors due to which a company takes leading positions on the market. Advanced technologies, high-quality equipment, popular nowadays CRM technologies that help to correctly organize relations with customers - no doubts all these are constituent parts of success. However, neither qualified employees nor priceless know-how can lead to prosperity without smart company management.
A good director should have enough time to monitor the entire process and always stay informed about what is going on. Managing projects, documents and employees - everything must be under control. The CRM system called LeaderTask Company Management may become a great assistant in this task.
It is much easier to manage an enterprise or a company with the help of LeaderTask because you do not have to keep all important issues in mind or search through a paper organizer looking for the necessary phone numbers and dates of business meetings. All necessary business-related information will be kept in one convenient and simple program where it is as easy as ABC to find any data.
The LeaderTask organizer takes managing projects and all business processes in a company to a new level. It is possible to assign any task personally to a separate employee and then easily supervise how it is being done. At any moment you can find out in what step the assigned task is. If you install LeaderTask on a PPC, you will be able to manage projects even en route.
The electronic organizer is also indispensable for relations with the company’s customers. It is impossible to use modern technologies and techniques without auxiliary software. To increase customers’ loyalty, you need a database with their contact information. The LeaderTask Company Management CRM system provides you with the simplest and most convenient way to keep and use all necessary data from the customer database.
Besides, smart enterprise management is impossible without controling employees. You can even remotely assign a task to any employee and check the progress of the current tasks. The LeaderTask CRM system makes the entire business process visual and easy to control. Every employee will feel responsible for tasks assigned to them.
Easy-to-use and comfortable LeaderTask allows you to easily and quickly access any information about processes, customers or employees. This electronic organizer is a real find for a director who values his time.
More information on the program can be found at the developers website: CRM system - LeaderTask company management system
Download free 45 day program version: http://www.leadertask.com/download/ltcompany.zip
Ivan Abramovsky is cofounder of Unattended Installation Systems. The company’s flagship product MultiSet has become a “must-have-software” in homes and offices in more than 60 countries. Unattended Installation Systems
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