Businesses can pay a heavy price for in-house debt collection operations. Regardless of the success rate, internal production costs of time, labor and collections technology divert critical resources towards indebted consumers and away from revenue growth. Companies with delinquent consumer accounts that aim to funnel all resources towards profitability may benefit from the services of a best-in-class agency.
Optio holds proven success in conducting first-and third party collections for each industry served — financial services, education and student loans, healthcare, retail, energy and utilities, telecommunications, automotive, commercial collections and insurance. Each partnership and satisfied collections campaign begins with a consultation.
Once a free phone consultation is scheduled, an Optio representative will call at the arranged time. Consultations typically last one hour, but they can be shortened to accommodate company schedules.
These consultations provide businesses with an in-depth look at Optio services and how our agency can best serve individual company needs, along with an opportunity to discuss all questions and concerns that a company may have. Each business operates with unique internal processes, matters of importance and needs. Our representatives will learn all facets of a business to tailor an individualized collections plan.
Our goal is to gain a thorough understanding of a business’ current accounts receivable operations along with all applicable company information to determine which Optio strategies best suit company requirements. Our rep will ask a lot of questions concerning:
- What are your specific business needs?
- What are your hard numbers on accounts receivable — number of accounts, age, average balance size?
- How many hours do you spend per day on debt collection management?
- Do you send monthly statements and additional past-due notices?
- Do you conduct phone calls to consumers with outstanding debt?
- Where in the aging cycle do you begin to make phone calls?
- What is the consistency of phone calls to consumers?
- How many conversations with consumers do you have versus voice mail?
- How many phone calls a consumer is acceptable before receiving payment?
- At what point in the aging cycle a delinquent account is labeled a problem?
- What is the age in which an account will enter Optio’s collections?
- How many initial accounts will you send to Optio at the time of signing?
What Happens After a Free Consultation?
Interested parties may choose to sign with Optio at any time. Once businesses receive a thorough explanation of our services, with all questions and concerns answered, companies that decide to sign at the end of our free consultation will receive a proposal same day. When signed agreements are processed, clients will receive an email from Optio containing a temporary password along with all new client account information. Clients can begin to submit consumer accounts to Optio as soon as the company account is accessed. From signing to submitting consumer accounts takes 24 – 48 hours.
Debt Collection Services at Optio
Consumers who cycle through our strategy one letter series will be encouraged to pay existing debts, contact our client directly, or choose not to respond.
Clients hold full authority in determining the next steps for consumers who fail to take action – granting an extension, directing communication back to the client, canceling the account’s collection activity, or placing the consumer into our strategy two phone calling service.
Strategy two consists of letters paired with an Optio debt collector calling consumers to retrieve full payment. Our experience shows an increased success rate for strategy two consumers who have processed through strategy one. We suggest utilizing our first– and third-party debt collection strategies as early as possible to channel all resources towards increasing profits and growth.
Contact Optio Today
Our agency assists businesses in conducting collections with advanced data security, brand protection, certified compliance training and a team of top debt collectors.
At Optio Solutions, we are eager to work for U.S. businesses requiring accounts receivable management. To learn how our services can help your business, contact us today to schedule a free debt collection consultation.