Outsourcing has a long and productive history in the U.S. From the start, outsourcing has given companies new opportunities to improve their business models and operations. From software development to white label manufacturing, outsourcing is alive and well the world over. But what about debt collection? Have you ever considered outsourcing those judgments you’ve have been struggling to collect?
Companies outsource a variety of tasks for a lengthy list of reasons. Below are five such reasons that apply to all sorts of businesses right across the board. Each one is as applicable to judgment collection as any other industry. We encourage you to seriously think about them in light of your unpaid judgments.
1. Save Money on Operational Costs
Every operation within your business costs money. You spend money to produce products or provide services. That is just for starters. You also spend money in the back office on HR, accounting, business administration, and so on. You are even spending money by choosing to collect unpaid judgments in-house.
Outsourcing unpaid judgments to an agency like ours can save money by reducing operational costs. And when you choose Judgment Collectors, you do not spend another dime once you turn collections over to us. We work on consignment. We cover the costs of everything we do.
2. Refocusing on Core Products and Services
A lot of companies outsource tasks that are not directly related to what they do simply so they can refocus on core products and services. The tasks they have chosen to outsource do not add to the bottom line. More importantly, they distract from the mission. The same is true with collecting judgments. The collection process is a distraction. Turning it over to us allows your company to get back to its core.
3. Free Up Internal Resources
Collecting judgments in-house requires a certain amount of internal resources that could be put to use elsewhere. Those resources include everything from time to office space. In some cases, outsourcing frees up so many internal resources that the company can finally grow and expand. That may not be the case with judgment collection, but any time you can free up internal resources for other needs, it is a good thing.
4. Access to Industry Expertise
Some companies outsource certain tasks because they lack expertise within their own workforces. Rather than continuing to make do, they gain access to the necessary expertise by outsourcing. This is definitely applicable to judgment collection. Each of our staff members brings debt collection expertise to the table. We are experts in judgment collection because that is all we do. Our expertise could be the very thing your collection efforts have lacked thus far.
5. Access to Proven Tools
In addition to needing industry expertise, companies often outsource because they need access to tools they don’t otherwise have. In the debt collection game, companies like ours have access to a variety of proprietary databases and other tools that company accounting departments do not. We can dig deeper. We can find hidden assets. The tools we use are highly effective, but your company doesn’t necessarily have access to them.
There are yet more reasons companies choose to outsource work they no longer want to do in-house. The five mentioned here are just the starting point. If we apply them to collecting unpaid judgments, it becomes clear that outsourcing collection to a firm like Judgment Collectors could be the best choice your company ever made.
If you would like to know more about how our service works, do not hesitate to contact us. We are ready to get to work on your judgments right away.