Companies today are presented with bigger challenges than ever before. Accounts receivable and collections continue to deteriorate as a percent of revenue. FDS’s Extended Business Office overcomes these challenges and adds revenue to your bottom line!
Our EBO will enable your office to run more smoothly and efficiently than ever before. With our Extended Business office, FDS will act as an extension of your business office providing the staff, technology and processes to increase your cash flow by decreasing accounts receivable.
Nobody knows your business better than you, now run it better than ever before with our Extended Business Office.
What is EBO designed to do?
- Act as an extension of your office that is transparent to your customers
- Reduce your collection/operating cost by redirecting valuable man-hours elsewhere
- Streamline your collections and AR process
- Improve your cash flow
All accounts will go through a rigorous process to ensure maximum reimbursement
- Data Verification
- Multiple mode contact starting with FDS’s letter series and phone campaigns until payment or payment arrangements are made
- Credit “triggers” placed on debtor’s credit report
- FDS is alerted if debtor makes an inquiry with any of three Credit Bureaus
- FDS will make follow-up directly with the debtor to make payment arrangements
- All payment plans monitored for the life of the plan
- FDS will also conduct any negotiations required to achieve “paid in full” status per agreed upon criteria from client
- From date of referral, the accounts will remain in EBO status for a pre-determined amount of time
- Any account with an “active” status will remain in EBO until default
- Accounts in default status will be referred to collections department for collection activity or back to your facility for further action