Published on August 18th, 2019 | by Bibhuranjan0
How companies like Cedars Business services can help out your business?
Debtors are the biggest asset of any company. It is a blessing in disguise for any business. It not only makes your balance sheet stronger but also helps in increasing the share price of the trading stock of the company. However, debtors can have adverse effects if the collection period exceeds the estimated time leading to heavy bad debts and severe losses.
Debt collection has become a major concern for all major businesses. Business can’t do without facilitating credit sales and other transactions that mostly operate on credit, but the cost of such recovery often becomes a big concern. Cedar Business services come handy in such situations. Cost-effective, reliable and faster international and local debt collection service providers, Cedars Business Service.
Who Are They?
Cedar business, also known as Cedar Financial, headquartered in Southern California, is a third-party debt collection agency which follows a human-centric approach to create corporate solutions which can be beneficial for your business. Their ‘People First’ approach ensures to pay personal attention to your business and your personalized needs. No matter how delinquent your past-due account is, their professional team is always available for corporate services.
Why Cedar? – Because it’s the best in the business!
Cedar Business services believe that quality financial information is vital for each of the parties in the business for efficient decision making. It is necessary to foresee the outcomes of certain proceedings, analyze the results and be prepared for the worst circumstances. At all times, the finance manager who creates the budget and cash flow is your final decision-maker. For smaller business, it is not cost-effective to have someone in this role full time. Cedar business services streamline their processes and systems to enable them to offer the same level of sophistication that is offered by a financial director within their support package.
They Play It Fair!
Goodwill of a company is as vital as its operational success. Global debt collection can be difficult to handle and if it is not done ethically, can have negative effects on a company’s goodwill. And so, when you are shifting these responsibilities to an outsider, you need to ensure those shoulders are worth it.
Cedar Business services have trained its representatives to be compliant with the Fair Debt Collection Practices Act (FDCPA) and to never use unfair practices to collect debts. They treat their work with utmost respect and are tailored towards finding amicable solutions with all their efforts. Their services are fair and they have strict and transparent collection policy. They ensure that their customers and clients adhere to high ethical standards. This also includes ensuring that customers are well aware of their rights.
How Do They Work?
Cedar Business services invest some time in understanding your business properly- how you operate and what your financial strategies are. They look at how you plan to strategize it further, what are your development plans and budgets.
These budgets form the basis of the key performance indicators (KPI’s) of the business. Their processes take the information generated by the company and expand these into monthly management accounts with a comment on the KPI’s and review of the performance of your business against the budgets. They ask additional questions to management, if any, and present a consolidated report. This can then be edited for distribution, as required, to financial institutions and internal management, where appropriate.
Cedar also includes a monthly review, called the Cedar Financial review, and discussion of current and trading periods, in their plan of debt collection.
Cedar does not carry out audits of companies’ accounts but assists in the preparation of statutory information for filing at Companies House and submissions to HM Revenue and Customs. They are also equipped to process Payroll records if required.
Yes, You Can Trust Them!
Financial relationships are majorly built on a deep trust between individuals. As a business entity, it is only fair to completely analyze if you can completely trust a company and make an informed decision.
If a large sum of your operational money gets blocked due to debtors, the impact can be severe. Cedar Business services understand the repercussions you will face due to delay of such payments. And thus ensures that your credit reports are checked thoroughly so that they make informed business interactions. Status updates report, feedback, advice towards resolution of each claim is also provided to you on a timely basis.
What makes Cedar the most prominent debt collection agency is their effective skip tracing services to help you to reconnect with a customer that has moved and not provided updated information. It conducts thousands of investigations in every country spanning Europe, Latin America, Africa, Asia Pacific, Australia, the Middle East, and India. They keep the most up-to-date financial information so that you make informed decisions. Your business is their first priority.
Out Of The Box Ideas
Out of all the debt collection companies, what makes Cedar stand out is their clear vision of providing the best corporate services to your business. This helps them to come up with plans and ideas that can be useful for your business effectively.
Pre-collection – a method to reach out to customers is one of the most cost-effective ways to manage your past due receivables. No one likes to default their dues. And positively approaching the customers to motivate them to pay back not only saves the company from unnecessary losses but also prevents the company from having their goodwill compromised. Such pre-collection creates better response rates, makes contingency fees negligible, maintains the customer relationship and provides a quicker resolution of past due balances. It is highly cost-effective as there is no additional processes involved and gives faster results.
Business process outsourcing is another cost-saving approach to get the due receivables back into your company. Cedar works as an extension of your own company, thus leading the customers to instil faith in the contact. The collections become faster as customers are satisfied that they are not deceived and you get your dues back. It’s a win-win.
Cedar business service does not have a fee structure based on time costs but is agreed in advance for a period. Because of this approach, a team of staff from Cedar prepares the information on a monthly basis. All files get reviewed before the presentation and this enables them to explore alternative strategies before presentation to their clients.
Their exceptional relationship-building ability enables them to reach a broad spectrum of companies and reduce cost. Their reciprocal arrangements with their clients have benefitted them hugely and they are able to provide your company unparalleled service with minimum cost.
What Makes It Special?
With the tremendous success in their work and team, one may wonder, what makes them special? They send a demand notice to the creditors specifying a limited time frame for repayment and if payment is sent within the allotted time frame, the client’s pay nothing. It’s just another way Cedar Financial helps the client get the money they’re owed and the speed and efficiency are what makes it one of the top international debt collection agencies across the globe.
How Do They Do This?
All exceptional companies have a dedicated and motivated team that works day and night to make this happen. Cedar Business services have strived to become a leader in international and local debt recovery. A company without their passionate team, cannot achieve this kind of success. Their team comprises of negotiators who achieve the desired results with sheer perseverance. Their exceptional understanding of the business and their dedication towards their job is what makes them unique. They have the right equipment at their disposal, perfect skill set and most importantly right goal to achieve – customer satisfaction.
Accounts that are unresolved by them are always forwarded to their legal teams to trace. Proper legal actions are taken and money is recovered. These methods help them to achieve results while maintaining their brand image. They keep your brand image at the top and never turns to legal measures unless absolutely necessary
Consult Them, Today!
If there are questions or doubts in your mind, they would like to discuss the benefits of working with Cedar Business services. An open discussion with their team on a half an hour call span where you can discuss matters that you believe either are now or will soon be a matter of concern.
They always enter into clearly defined confidentiality and non-circumvention agreements with all of their clients. If there is an opportunity for them to recommend your business to anyone even if you do not develop your relationship any further, they are more than happy to help. There is a good chance you will have a delightful experience, and not regret the half an hour from your business schedule.