Tax Season Strategies for Accounts Receivable

Tax Season Strategies for Accounts Receivable

Our subsidiary, LocateSmarter may be focused on skip tracing, but their employees know a thing or two about tax season and collections best practices. Check out a partial excerpt from D.J. Perry’s blog post, “Tax Season Tips for Collections.” What strategies are you executing in your accounts receivable department?

1. Tax Season Talk-Offs

Start getting those tax season talk-offs ready and in the front of your agents. (Voice analytics is a really effective way to monitor “tax” mentions.) An RPC that didn’t pay in December can be teed up by asking the right questions.

2. Payment & Letter Strategies for Tax Season

Prepare a settlement letter strategy or aggressive payment plans that include a lump sum, upfront payment and smaller payments thereafter. A strong letter strategy is important. I’ve found that including different payment options within a single letter can be very effective.

3. Accurate Contact Information

Get the best contact information for your consumers. When was the last time you assessed your data provider(s)? Dialing efficiency is crucial during tax season, so you’ll want to make sure you’re partnered with someone who cares about delivering the best phone numbers.

CBE Companies has been in business since 1933 and with that comes a wealth of proven collections best practices and subject matter experts. If you’re interested in utilizing our expertise to take your business to new heights, contact us today.