Spring Is A Time For Growth (and Scaling!)

Springtime is finally (finally!) upon us. Like the flowers and trees around us, it’s a time for everyone to shake off the winter doldrums and embrace growth and renewal. For many of us, that means getting our old Accounts Receivables cleared out. This presents an obvious problem though, how do we even get started? After all, whatever your business’s mission is, it was founded to do that mission. It was certainly not founded to send an endless stream of reminders and follow-ups for payment, W-9s, Statements of Account, and more. To make matters worse, if you’re running a startup then you know how quickly waves of turnover can strike. Like a late frost, even a single unexpectedly unavailable employee can have ripple effects that leave your business doing poorly for the rest of the year. All of this can result in your Accounts Receivables becoming a critical distraction from the business of doing business.

Growth is Impossible Without Infrastructure

It is for that reason that outsourcing First-Party AR Collections can often be a critical part of the puzzle, particularly for startups. By taking the burden of internal hiring off of the business’ shoulders, it is free to focus on its area of expertise. In more concrete terms, companies are able to handle their Accounts Receivables without increasing their staffing overhead or dedicating scant internal resources. This, in turn, provides crucial time and resources to build the infrastructure necessary to support an expanding organization.

AR Management is Crucial for Growth and Scaling

A well-structured AR Management strategy isn’t just about reducing the workload involved. It’s also about getting the early stages of the payment and collection process systematized as smoothly as possible to ensure that your business gets paid! For that reason, when outsourcing the process it is so important to retain a collection provider that truly understands your processes, customers, services and products. It makes it possible to cure payment bottlenecks that may have been unnoticed or unproblematic in a smaller organization, before they become a serious issue for a larger organization. 

An Evolving Relationship

There are a variety of reasons to outsource your AR Management, perhaps a member of your team is unexpectedly ill, on maternity (or paternity) leave, quit or been let go. Whatever the reason and whether or not it is a temporary or long-term arrangement, your relationship with an external team of AR professionals should be an evolving one. Outsourcing in this way can be more than just an opportunity to free up internal resources and lower overhead. It also gives you the opportunity to reevaluate and refine your own processes. Once this crucial piece of infrastructure has been established, you will surely be ready for the bountiful Summer ahead.