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4 Things Debt Collectors Know That You Don’t

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4 Things Debt Collectors Know That You Don’t

By Dean Kaplan, CEO and President, The Kaplan Group

Cash flow is more important than ever. In the middle of a pandemic, very few businesses can afford to have clients owe them money. This means many businesses that used to be more laid back about collecting from late-paying clients are getting serious. As a commercial debt collector, there are things I know about the debt collection process that may surprise you.

1.Nice gets results.

There’s a stereotype of debt collectors as angry and threatening. But most successful debt collectors know that to be effective, you have to listen to people and form a relationship. Your approach to collecting from a client is highly dependent on the reason they haven’t paid. Without listening, you don’t know if a debt isn’t paid because the client is temporarily in trouble, about to go out of business, just disorganized or has a dispute. The more you can get people to talk, the more information they’ll reveal. It’s possible that the debtor will become upset or embarrassed during the conversation. But, the collector must stay calm and reasonable.

2. Debt collection starts before you sign the contract.

Having a solid credit application and laying out terms on all your contracts can make a huge difference in your debt collection. Your credit application should include complete contact information and layout any payment terms, including interest and late fees. Interest and late fees often provide good negotiation points for collection agents. I have frequently offered to waive late fees in exchange for prompt and complete payment.


Make sure that the terms on your contracts and invoices match the terms on your credit application. A reputable collection agent will want to see complete documentation of the agreement and debt. Although I try to avoid going to court, I will not accept a case if I don’t think it can be proved in court.

3. You should avoid going to court, and threatening to do so.

Speaking of court, although many people pay on debt because they’re afraid of legal action, you want to try to avoid it whenever possible. The contingency rate (the amount you pay the collector) is higher if you have to sue and the process is prolonged. This is especially true now when courts are backed up due to the pandemic. A default judgment might get issued within six months, but trial dates are now being set 18 or more months from the filing date. By that time, the customer could be out of business. Once you win a judgment in court, the money still has to be collected, which can take years in some situations. You should never threaten to take a client to court. Once you issue that threat, you have to follow through. If you threaten to sue and then hire a collection agency instead, you’ve made their job harder. Likewise, you should not threaten people via social media. Doing so can backfire and expose you to legal action.

4. Prompt debt collection can save business relationships (and time and money).

When a client owes you money, your first step should be to cease doing work or selling products to them. Unfortunately, this means your client will need to find another vendor. If you spend months or years trying to collect from them, that just gives them more time to build a relationship with another vendor. By sending the invoice to a collection agent promptly, you shorten the amount of time before you can begin working with the client again. Hiring a collection agency on a contingency basis can also save you time and money. Your staff can be focused on their regular tasks and reputable agencies have tactics for increasing pressure to get money flowing faster.

As this new year begins, you’ll want to make sure that all of your accounts are in order. Thinking about debt collection both now and in the future can keep your cash flow steady.

The Kaplan Group, a commercial collection agency specializing in large claims and international transactions. He has 35 years of manufacturing, international business leadership and customer service experience. Today, he provides business planning, training and consultation to a variety of global companies.

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Finding Waterproofing Contractors in Your Area

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Finding Waterproofing Contractors in Your Area

In our daily life, we find a lot of ways on how contractors to waterproof the basement. It can be found in many ways like applying paint on the basement walls and also fixings of the basement foundation. It can also be found in fixing the leaks in the basement.

Some contractors use high tech tools for waterproofing. This is done to prevent further leaks in the future. High tech tools are used in waterproofing the basement. One example is Buck knives.

1.   Hire Reliable Company and Contractors:

A reliable company will provide the waterproofing service in Colorado. They have competent and skilled workers that can perform basement waterproofing. In this service, basement waterproofing is provided by licensed and professional contractors. Although there are many ways to waterproof your basement. Choosing contractors to waterproof your basement is the best solution to solve the water leakage problem in the basement.

2.   Check the Credentials of the Company:

If you want to hire basement waterproof contractors Colorado, you should know their credentials. So, you could make sure that they are certified and expert in waterproofing. Some contractors may have a license while some may not have one. You can also check their affiliations or membership in certain plumbing associations.

3.   Ask for Recommendations:

One way to identify good basement waterproof contractors is to ask your friends and neighbors about their recommendation. Most people would love to help you if they have experienced contractors to waterproof the basement of their house. Another way is to search on the internet. Many websites provide useful information about basement waterproofing contractors. You can even read reviews on different contractors and their services.

4.   Consider Important Factors:

However, before hiring basement waterproof contractors, you should also consider some factors. You should identify the basic things you need to waterproof the basement. Identify the type of work and materials needed for the job. Find out the cost of the services and compare them with other companies. Do not forget to check if they are offering free estimates. A reliable and trustworthy company would offer free estimates to its prospective customers.

5.   Materials and Tools:

If you need certain materials or tools, do not hesitate to ask your contractor about them. They should be able to provide you with waterproofing products that are durable, affordable and safe to use. Ask them to provide you with advice or recommendations on basement improvements and renovation. They could give you valuable advice on the matter.

6.   Choose General Contractors:

There are different types of contractors to help you with waterproofing your basement. You can choose from general contractors to special contractors. General contractors are those who handle works like repairing leakages and cleaning up. They do not specialize in waterproofing. Special contractors, on the other hand, are experts who can handle projects that involve complicated waterproofing procedures.

7.   Specialized in Their Field:

There are also basement waterproofing contractors that specialize in basement wall treatments. Such as crack repair, caulk filling, and sump pump lining. Some of them even offer services such as basement mold removal, asbestos removal, and concrete drying. There are also basement waterproofing services that provide insulation services to homeowners. These professionals use special equipment to make sure that your basement is properly insulated.

8.   Sound Proof Insulation Materials:

You can also find contractors that waterproof the basement by installing soundproofing insulation materials. Soundproofing makes sure that basement activities are not disrupted due to the presence of sound. Some contractors are also licensed to install and repair cable insulation. These contractors can easily handle any works related to cable insulation.

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THE RISKS AND REWARDS OF AGILE TRANSFORMATION

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THE RISKS AND REWARDS OF AGILE TRANSFORMATION

The term “agile transformation” alludes to a company’s or organization’s complete transfer into the agile mindset, but at a much deeper level than you may imagine. It is not limited to the product development team. Agile transformation is concerned with transforming the business as a whole.

What Is Agile Transformation? (Make it H2)

Agile transformation is primarily about organizing teams, creating backlogs, and generating functioning, tested software. At scale, it is about forming networks of loosely linked teams, coordinating dependencies, managing trade-offs, getting products to market quickly, and evaluating throughput rather than productivity.

Xebia, USA provides quality Agile Transformation services in the USA.

Organizations encounter a range of risks and rewards when they embark on the Agile Transformation journey. In this post, we’ll look at some of these risks and rewards. Let’s get started!

Risks Of Agile Transformation (Make it H3)

The path to a successful agile transition is not straightforward. Agile disrupt an organization’s culture and employees’ thinking, resulting in the firm’s overall business agility.

The following are some of the most significant risks associated with Agile Transformation:

1. Third-party involvement affects work practices

Many businesses are enslaved by fixed-price or fixed-outcome contracts, or they engage with vendors who can’t or won’t adapt to an Agile delivery model. Working with vendors who are unable or unwilling to accompany you on your Agile journey will endanger your progress.

2. Stakeholders uncomfortable with the loss of predictability and control

Agile initiatives can irritate stakeholders in both business and IT because of its unpredictability, whether it’s the avoidance of solid commitments to specified costs/timelines or potentially ambiguous results or developments. Making individuals offer assurances, on the other hand, will eliminate agility faster. Many stakeholders may respond by attempting to reinstate rules and governance that no longer serve.

3. Tooling and automation landscape insufficiently mature

Many features of Agile transformation cause problems that cannot be handled using traditional methods. A plethora of new technology and automated solutions are available to organizations straining to keep up with the increased speed and dynamics of faster updates.

4. Risks are not actively mitigated

Agile demands significantly more active risk management than waterfall does. A risk record and monthly meetings are set up in a standard waterfall project to analyze risks and take action to minimize the more pressing ones.

In Agile, risks become serious within days of being identified, and if you don’t manage them immediately, they’re live in production before you’ve properly considered them.

Rewards Of Agile Transformation (Make it H3)

A company commits to fostering a much more collaborative work environment by implementing an agile transformation, which places a higher focus on innovation, employee initiative, creative techniques, and a reduction in needless management.

Here are some more advantages of Agile Transformation:

1. Boosting efficiency, reducing obstacles

One of the primary advantages of Agile Transformation is increased efficiency. This emerges as a greater emphasis on team cooperation and engagement.

Departments are no longer bound to their own responsibilities with no involvement in the work of their colleagues: teams may exchange their expertise and talents to generate better goods and function more efficiently.

2. Stronger communication

Following on from the previous point, improved communication is critical to increasing teamwork. Agile emphasizes the significance of sharing ideas, testing, and providing feedback, all of which necessitate clear open communication.

To stay connected, teams should have the means to engage quickly, effortlessly, and efficiently.

3.  Ability to Change Priorities

Another virtue that agile respects is the ability to respond to change while sticking to a plan. The majority of software consumers do not know what they want until they see it. It just does not make sense to devise a strategy in which software will not be available for months. Too many elements can collide, causing the final software to become irrelevant or unwanted. Consumer needs and expectations have shifted, and businesses must adapt to meet those shifting needs. Agility encourages and trains individuals to adapt their priorities that shift frequently.

4. Faster product delivery

Agile Transformation has the same effect on all sectors of a business as agile principles may help teams accomplish software development projects faster.

Employees should be given more freedom to operate independently rather than being micromanaged at every turn. This shift in managerial oversight might be disconcerting at first, but it helps to produce a faster, more efficient process with fewer delays and hurdles to overcome.

A Leader's Guide To Successful Agile Transformation: How To Go Beyond Teams

Conclusion

Many businesses are still resistant to change, despite the growth of Agile Transformation and the benefits of business agility. Each change comes at a price, and senior management is wary that Agile is merely another management fad. Organizations must see for themselves how Agile Transformation adds value to the company and solves problems.

On their road to an agile transformation, organizations will encounter unprecedented hurdles. The goal is to learn from your errors and to embrace change with open arms. Transitioning to agile also necessitates the involvement of an experienced agile partner who can assist individuals and the company through coaching, training, and collaboration with executives to create change.

Xebia, USA is a great IT Consultancy company in the USA that can help your organization in Agile Transformation.

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The Importance Of Having Electrical Contractors For Your Home Needs

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The Importance Of Having Electrical Contractors For Your Home Needs

Are you the type of person that envision his surroundings without illumination? Or a home that lacks electricity to keep the machines and other power-operated items functioning? This may be a situation wherein you are not fond of. You will also experience stress and discomfort if not addressed properly.

These conditions are only a portion of the models that you will eventually face or have some insights if power did not play a significant portion in your lives. It became a turning point for various careers and industries all over the globe. Such factors can essentially influence your everyday practice and exercises with your loved ones.

Did you notice that the time that you are using and facing your devices and items that utilize power is also increasing year after year? Some individuals are required to use the computer almost 18-20 hours a day just to finish their tasks and work.

Hence, you may feel incapacitated if electricity is removed from your life. You can’t utilize some PC, telephone, and other home machines when there is no power plug. This is one of the main issues of homeowners when they just recently moved in the area or into a new home.

Moreover, you can click here to have more information about how electricity is now a major part of human existence. It is also helpful to have some background on this topic to know the things that you must do or some precautionary measures in case there will be any electrical issue in your household.

The Utilization Of Power or Energy

Power is a fundamental and ostensibly essential piece of present-day life and is imperative to different economies everywhere including neighboring countries around the world. Pretty much every industry is currently working inseparably to give cost-proficient electrical requirements in each family.

Most investors are now keen and looking for energy-friendly providers in order to mitigate the effects of global warming on the environment. The high electricity demand must be matched with the proper manner of producing it and supplying it in every household.

Every individual can attest that it is one of the things that they cannot live without nowadays. The world became more and more dependent on electricity. It should not be considered a bad thing because it will also help other people to earn money and reach for their dreams in life.

In line with this, it is regarded as a result of innovation that paved the way for creation, business, schooling, and it influences each part of human existence. A person’s mobile phones, personal computers, cooling machines, heaters, and other home appliances, require a certain amount of energy in order for them to operate fully.

At the point when power is eliminated, many individuals will surely struggle. The supplied merchandise and consumables will be influenced, the progression of the economy will stop, and the rundown goes on. These are just some of the crucial effects of removing electricity in a person’s life whether he or she is a student, employee, businessman, or in any profession.

Importance of Having Electrical Contractors

Notwithstanding the knowledge that you have in dealing with a broken outlet or some background in fixing a socket, you will still need a professional that can address and fix matters that are complicated and demands specific pieces of equipment for everyone’s safety and security.

Electrical contractors are professionals that have sufficient background, experience, and expertise in dealing with electrical issues both minor and major ones. They no longer have some problems in determining the cause of a power interruption because most of them are being exposed to that kind of job every single day.

Moreover, they are considered as your trusted guardian in keeping everyone’s comfort and prevent any power outage. Also, it can relevantly affect the daily routine of an individual whether he or she is an employee, student, or others. You can also visit sites like Electrical-pros.com to have more ideas on this matter.

Do not wait until someone in your household will experience an unfortunate event before you call an electrical contractor to check your electrical system. Always remember that you must regularly check your home system to prevent any major repairs that will also damage your saving in your bank account.

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