Is maintaining healthy company finances easy?

The success of any business relies on a positive cash flow. A handsome balance sheet will require to track your expenses constantly and make sure that they do not surpass your actual earnings. Moreover, there is this incessant challenge of collecting payments from your customers.

In an ideal world, your business would immediately receive the payments for the services or products you deliver. In reality, payments are seldom spontaneous. While there are a few incredible clients who settle their accounts on time, there are many who are not that dependable payers. This is why businesses are left with mountains of unpaid invoices.

And as a business, can you take out time to chase such customers for arrears?

The cost of shifting your focus from your core business function to other activities will be huge. Profitable operation and sustainable expansion should be any company’s priority. Other activities that are not your core competencies will not only drain your time, efforts and money; but will also involve an opportunity cost to your company.

There are several ways that a debt collection and recovery agency can proliferate your business. While the list is inexhaustible, this blog attempts to draw out a handful of such benefits that will prove this association worth your time and every dime!

Sustained Cash Flow

The biggest advantage of working with a seasoned debt collection and recovery agency is that you start receiving the owed money, effortlessly. Despite the complications involved in delinquent accounts, your association with a Debt Collection Law firm makes people pay their debts faster and more often. This is because debt collectors are experienced professionals trained to persuade debtors to pay.

Debt collectors increase the chances of your customers paying the owed money, retrieve unrecoverable funds, reverse write-offs; thereby improving the cash flow and the overall vitality of your business. While credit sales are inevitable risks, sustaining the life blood of cash flow is the single most important business function. Any small, medium and large enterprises have tragically choked to their untimely deaths due to bad debts. Let’s cure it before it’s too late!

Financial Security

While collecting arrears is a curative function, a proactive debt collection and recovery agency also serves a preventative purpose. When partnered with the best debt collection agency in Dubai, the invoices receive priority for payment clearance in order to avoid unwanted troubles. Annual Retainer Contracts is like the adage, ‘Prevention is better than cure’.

Receivables management is an inevitable function that is best outsourced to professional recovery agency as their expertise and professionalism make the arrangement work like a charm!

Market Reputation

In the new age of social media and information technology, it is imperative to maintain a good market reputation. Undeniably, it is important to unkeep the public goodwill towards your brand and company. Collecting accrued payables in-house from existing clients has a risk of reputation as employees may get emotionally involved and overstep legal parameters. With such high stakes, it’s best to delegate this challenging task to the experienced third-party legal consultancy firm for a flawless execution.

Time Management

It becomes easier for business owners to concentrate on the core objectives of their business as debt collectors expertly take over collection roles. Efficiency = Work / Time

If not efficient, work becomes time-consuming. The excessive time and resources spent on in-house receivables management can otherwise be productively used for business building.

So, let the experts do the collection job, while you build your business!

Legal Protection

Debt recovery is a scrupulous profession and needs a careful observation of several local, regional and international laws, rules, and regulations. These can easily make things complicated for you. Working with the best debt collection agency and legal consultants in Dubai will not just help you with timely debt collections but will also keep you out of all possible legal implications.

Cost Efficiency

Court cases are expensive, right from case registration to execution with the steep expenses of lawyers, court fees, legal translations and documentation work, among others. As litigation involves high costs and resources, often people prefer to write-off accounts. In doing so, the burden of fiscal deficits of all past due accounts keeps getting bigger and bigger. Hiring a collection agency for debt collection is a profitable solution to the problem of increasing debt.

Flexibility

Each business has a unique set of requirements and meeting unique requirements needs unique solutions. Off-the-shelf solutions will backlash and leave bitter experience residues.

With firsthand experience, we have developed an efficient and cost-effective, multi-staged Debt Collection Process, managed by a team of experienced legal recovery experts, that capacitates a high success rate. We bring exclusive services for your business to help you focus on what matters more!

Litigation

The debt collection law firm keeps detailed records and documents on interactions with debtors. After exhausting the pre-litigation processes, should you decide to pursue litigation, the due diligence conducted and the documents will prove that sufficient effort was put forth into collecting the debt, and the debtor failed to cooperate.

A thorough report on the debtor’s assets, their payment history and financial status will enable a fact-based decision, increasing your odds for successful and profitable litigation. As a sound return on investment is the focal point for your debt collection law firm, litigation is always the last calculated risk with mitigated risk of losing money in adjudication.

Lawgical Group is a trusted name in UAE for bespoke debt collection and recovery services. We provide the complete commercial debt recovery service; from early arrears collections through to expert litigation, all handled in-house by our winning team of legal experts.

Look no further for best debt collection agency in Dubai. Connect with us today.

Contact Us

For more information, please contact us.

Call: +971 50 985 1360

Email: info@lawgicalgroup.com