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Email us to learn how the experts at Your Virtual Credit Manager can help you clean up your AR Ledger and increase cash flow by improving your Collection Process. The first month after we automated a few basic tasks to supplement our accounting package, we realized an increase in collections of 30 percent.
The issue at hand is that despite the Fed’s rate increases in 2022 and 2023, the US economy has proven to be very resilient. If they cannot pay on time, they are not worth the additional collection effort. A similar approach should be taken for customers making small purchases.
The Debt collections business is primed for even greater transformation in 2022, which should come as no surprise. Digital debt collection improves efficiency and collection technology trend rates even in remote places while lowering recovery costs and reducing delinquencies. When going digital is the boon.
Note: This post was originally published in August 2022. Leveraging these tools at the time of service can provide you with real-time information that can help you: Reduce denials Increase collections Boost cash flow Methods for verifying insurance eligibility 2. It was updated in January 2025.
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