Your business relies on payments to continue operating successfully. Once customer bills and invoices become overdue, you may have tried to recover payments on your own or even utilized first-party collections services. But what happens when even these collections attempts have failed? Altus Global Trade Solutions offers third-party collections solutions that utilize advanced technology to recover your accounts.
In the first-party collections process, your company partners with an outside agency to collect unpaid invoices. All communication will be under your company’s name while the agency is acting on your behalf. Third-party collections often occur later in the collections process, once debts are past the “green zone”—more than 120 days overdue. Once collections move to third-party, your company name is no longer used and the collection process is not externally associated with your company. This allows you to better manage relationships with customers since all communication with debtors is now clearly detached from your business.
Collecting unpaid invoices and overdue accounts using a collections recovery agency offers various benefits to your company, from freeing up your team’s time to improving cash flow by outsourcing the collection to professional collections representatives. Third-party firms also utilize advanced tracking software and technological resources, and they do not charge fees unless they are actually able to collect debts.
At Altus, our trained, certified professionals help you maintain your relationship with your customers with trustworthy, secure third-party contingency collections process and collections litigations services.
We provide multi-layered reporting throughout the collections process. Through our online client portal, you can monitor debtor communication, payment history, notes, and recorded phone conversations in real time. Your reports can be customized for a more tailored, transparent performance analysis. We report on the status of your collections so you can enjoy maximum recovery of your accounts.
We proudly hold certifications and follow all regulations from the Commercial Law League of America (CLLA) as well as the International Association of Commercial Collectors (IACC). We are also proud members of the Better Business Bureau and the Credit Research Foundation. Read more in our knowledge base for exclusive information and tips from our international network of professionals. Altus is proud to be an experienced, secure, and technologically-advanced collections recovery agency offering legal and ethical solutions.
Altus maintains over three decades of data from our unique automated collections tool, ARMSTRONG. ARMSTRONG is a proprietary automated collections tool that features integrated e-signature and demand letter management, contact timing that is both predictive and optimized, and electronic payment methods. ARMSTRONG helps us automate and manage accounts receivable, debtor and client communication, track every contact interaction, and report on performance metrics, status, and collections. This tool maximizes debt recovery by combining automation and our professional analysis.
Let’s talk so we can start your third-party collections process and recover your overdue accounts with our professional, secure solutions. Submit your account to Altus Global Trade Solutions today to begin the contingency collections process.