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5 Reasons to Outsource Your Debt Collection

In Business Buy Guide, Debt Collection Quotes, Debt Recovery Quotes on December 22, 2010 by businessbuyguide Tagged: ,

Sometimes, it can be difficult to collect money from individuals or businesses that owe you. Handling your accounts receivables in-house can turn your focus away from your organization’s core competencies, but outsourcing this process can help you increase revenue as well as maximize productivity. Here are five reasons why you should outsource your debt collection transactions.

1.    Cost

Why invest hundreds of thousands of dollars in training and housing an internal collection department when you can let the pros do it for less? Collection agencies have been in the industry for longer so they know how best to deal with debtors and collect funds quickly. Some agencies even provide customer care services, which indicates quality and professionalism.

2.    Focus

It’s hard to pay attention to your business’s day-to-day operations and marketing when you have to deal with your accounts receivables as well. Outsourcing your company’s debt collection allows you to do what you do best. And when you focus on the more important aspects of your business, you can boost your productivity and find new sources of income, thereby increasing your revenue.

3.    Qualifications

A reputable collection agency is capable of doing the job well for you, so you don’t have to concentrate on training in-house staff. Several agencies give their employees a small base pay plus a commission that is based on the amount they collect. This gives their staff motivation to work hard to track your debtors down and reduce delinquency rates.

4.    Industry Practices

Legitimate collection agencies follow certain laws and regulations. Carrying out unethical or improper collection techniques can lead to costly lawsuits which will only make things worse, so leave the work to an agency that is familiar with the legal side of dealing with debtors.

5.    Currency

Because debt collection laws and regulations change frequently, it is important to stay in the loop when it comes to federal law amendments regarding debt collection and recovery. Outsourcing your accounts receivables to a collection agency will ensure that all transactions are performed in accordance with the latest laws and regulations, and any techniques that are of questionable legality are avoided.

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The Importance of Having A Business Blog

In Business Buy Guide, Business Leads, Social Media Marketing on December 17, 2010 by businessbuyguide Tagged: ,

The blog has become the heart and soul of the business website. Not only is it a great tool for sharing the latest industry news and relevant information, a blog is an excellent way to stay on top of search engine rankings as well. In addition, it helps establish an online presence in today’s competitive virtual business environment.

Your blog can add significant overall SEO value to your website. With search engines such as Google, Bing, and Yahoo! always on the lookout for fresh content, having a quality blog becomes more important than ever.

If we look at search engines as a swarm of bees, then blogs are the sweet, sweet nectar! Every time the bees come to visit, there’s a new flower that keeps them returning. A blog is a search engine’s source of new and up-to-date content containing relevant information, keywords, and links. Bloggers can also focus on key phrases to direct selected traffic segments to the site.

So who writes these blog entries? Who’s responsible for publishing all the information? Who has the time?! You can assign a trusted employee who knows your business well and can research and write relevant posts. Some companies hire an intern who is put in charge of blogging (and sometimes social media as well). Outsourcing is another readily available option that frees your business from the hassles of maintaining a blog. Still, the best person for the job is someone who’s an expert on your business: you!

What type of content should you put on your blog? Entries can be short or long, but they don’t need to be novels. Short, sweet, and concise is the best way to go with any blog post. The most important thing to remember is that anything you publish must have something to do with your business. Don’t get sidetracked and talk about personal matters. Keep it simple and relevant.

Company anniversaries and events are great things to mention, but there are only so many of those to go around. They can also get boring eventually. You can opt to find existing related stories and post them on your blog. However, this will require you to include a link to the original which leads traffic away from your site, so this should be your last resort.

Keep in mind that your blog should depict you as a trusted authority. If you choose to keep your blog up-to-date, then it should always show that you know your stuff.

Blogs are becoming a must-have complement to every business website. If you want great search engine rankings and would like to be found by the people who are looking for you, then having a blog is an uncomplicated and affordable way of doing so.

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Has Your Website Stopped Being Effective?

In Ecommerce Tools Quotes, Web Design Quotes on December 15, 2010 by businessbuyguide Tagged: , , , ,

In a fast-paced, ever-changing world, it’s either evolve or die for businesses. And as a company’s online presence becomes a bigger and bigger deciding factor in what makes or breaks a business, it becomes almost impossible to ignore the need to keep up with competitors who put more effort into online marketing.

With the introduction of Caffeine, Google’s new web indexing system, traditional SEO (search engine optimization) as we know it is being transformed. This can be a good or bad thing, depending on how a business responds to this change and how its online presence is currently being optimized against its competition.

Many SEO professionals are being challenged by Caffeine as they now have to reassess what they know and how it affects their clients. New Google algorithms have created some surprises for people who are used to conventional SEO practices; they are learning that previous techniques are either no longer working or not as effective as they used to be.

One of the big changes is that older domain names will be prioritized over those that are recently registered. Another is that the load time of a website is now taken into account as well. Sites that load faster will be indexed before slower ones, creating a situation wherein Flash-based websites and those with unnecessary content or large images may fall behind their competitors. Load time is also dependent on the physical location of a site’s host, how overloaded the server is, and how fast the data center is, so all of these factors are now more significant than ever.

The amount of activity on a website has also become a huge factor in its organic or non-paid ranking. Sites that are updated regularly will always outrank dormant ones, as search engines believe that more active sites are more relevant. A blog is an excellent tool for increasing organic ranking since it can provide more activity and pertinent information.

Amid all these changes, backlinks or inbound links still remain as one of the most significant and reliable methods of maintaining a higher ranking. Another standard that should not be neglected is SEM (search engine marketing), such as Google AdWords. SEM can help a newbie gain more visibility with minimal investment if carried out properly, as well as improve an already established website’s ranking.

In the online world, the quest for better site rankings becomes increasingly challenging as search engine algorithms change. Thus, the importance of a business keeping pace with the dynamism of online marketing in order to stay relevant cannot be emphasized enough.

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Hiring An Accountant Versus Using Accounting Software

In CRM Accounting Software on December 13, 2010 by businessbuyguide Tagged: , ,

It goes without saying that accounting is an integral part of any business. Failing to manage one’s revenues and expenses properly will certainly lead to the failure of the business. There are two ways to handle the accounting aspect of your business: (a) hire an accountant, or (b) purchase an accounting software system and do it yourself.

While many business owners hire an accountant to do the work for them, this setup may not be for everyone. Enlisting the help of an accountant can be costly, depending on the size of your business and the amount of financial data that needs to be managed.

For startups, you can collect the necessary documents and have an accountant come in once a year to work on them. Most accountants charge by the hour, so the amount you pay them will depend on how long it will take them to complete everything. Keeping all your invoices and receipts in chronological order can save you some time and money.

The second option is to invest in a good accounting software program. You don’t have to be a computer or accounting expert to use one as most are very user-friendly. More and more businesses are turning to this option because unlike hiring an accountant, you only have to pay once for an accounting software system.

There are various types of accounting software available for small and large businesses alike. Some programs can be expanded as the business grows, while others are even customized for certain industries.

Some of the advantages of using an accounting software system are:

•    You save time.
•    Your financial information is always up-to-date.
•    Expenses are reduced.
•    You can easily access your financial data.
•    Computation errors are minimized as the program is 100% accurate.

If used properly, an accounting software system can help your business run faster, better, and more efficiently. You can view all the latest figures with just a click of your mouse – you don’t have to go through stacks of papers and flip through the pages one by one.

Of course, choosing the right accounting software program is very important. Do your research first before purchasing one. This shouldn’t be a problem as you can find many reviews and recommendations online. The right accounting software will save you a lot of time and money, leaving you to concentrate on more important tasks.

Or, if you allow us to help you connect with quality outsourcing suppliers who can provide you with the service – then, it’s like having your own accounting department without the overhead and burdensome cost!

We can help you find a supplier that provides the accounting software of a provider who you can outsource to!

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Evaluating Prospective VoIP Vendors

In VOIP System Quotes on December 10, 2010 by businessbuyguide Tagged:

If you’re considering buying a new VoIP system, you have two ways of evaluating the quality of the service provided by vendors.

A.    Canvass and compare different vendors before you commit to one.
B.    Choose a vendor then evaluate them after you’ve worked with them.

The better option is A, wherein you compare vendors and their services before you fork over the dough. This will help you avoid any potential problems, because once you’ve committed to a particular vendor, it will already be too late to do anything if their service does not measure up to your expectations.

The best people to ask about potential phone system vendors when you’re canvassing are their customers. After all, who better to tell you about a service than those who have already used it? You can get a hold of these folks by asking prospective vendors to give you a reference list with the names and contact numbers of their customers. Ask for the information of the clients that have been with them for a longer time.

Here are seven key questions to ask the customers of potential VoIP system vendors. Ask them to rate their vendor on a scale of 1 to 5 (with 1 being the worst and 5 being the best) instead of just answering yes or no.

1.    How well does your vendor keep their promises?
2.    How would you rate their efficiency in solving problems?
3.    How would you rate their response time when you contact them for service?
4.    How fair are your vendor’s prices?
5.    How would you rate your experience when you had to talk to a supervisor or upper level staff who was qualified to resolve complex service issues?
6.    How would you rate your technician’s attitude and ability?
7.    How well does your vendor understand your needs? How would you rate their communication?

You will find that most of the customers you talk to will be honest with their answers. The information you gather will prove to be very useful in evaluating potential VoIP system vendors and help you select the right one.

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You’ve Gotten a Lead? Now What Do You Do?

In Business Leads on December 8, 2010 by businessbuyguide Tagged:

Tips for the First Time Business or Sales Proposal Writer

First time writing a business or sales proposal? I suggest you follow the format below. These guidelines do not discuss writing techniques, but focus on content instead. Here are the seven steps every first time business or sales proposal writer needs to cover:

1.    Figure out your client’s current state and what they wish to achieve.

2.    Show your client that you understand what’s going on.

3.    Identify the research and analysis that you need to carry out. Explain to your client that you have to determine how to get them from the present situation to the preferred one. Do you need to conduct a survey? Talk to suppliers? Talk to customers? What input from the client’s staff might you require? Which industry trends could be important? Also tell your client how the results of your research might affect your work.

4.    Your USP or unique selling proposition is all about how you plan to resolve the situation and some idea of its execution. It can be your skills, your big idea, or your qualified staff. If possible, include a case study of a successfully completed project that is similar to the requested proposal. Add appropriate testimonials or endorsements as well if you have them.

5.    Give your client some background information about your organization and the people associated with it. This includes any subcontractors you intend to use.

6.    Provide the details of the budget, responsibilities, and deliverables. Let your client know what you will be responsible for, as well as what you expect them to be responsible for. Specify deliverables, i.e. what will be done, by when, and by whom.

7.    Many clients just want an executive summary. This brings the proposal together by summarizing the most important points from the above sections. The executive summary may be enough for the client to make a decision.

Bonus tips:

•    Don’t forget your cover letter. It should be included in the package that goes out to your client. The cover letter thanks the client for the opportunity, and may summarize main points in the proposal and suggest the next steps.

•    Also know who the decision maker is in the company. I myself have submitted proposals to people who I thought were in charge – they even said so themselves. Make sure you know who has the authority to say yes to your proposal.

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4 Reasons to Outsource Your IT Support

In Business Buy Guide, IT Outsourcing on December 6, 2010 by businessbuyguide Tagged: ,

While some organizations may hesitate at the thought of outsourcing IT support, many have already embraced this practice – and for good reason. If you’re still on the fence about outsourcing your company’s IT support, here are some of the reasons why you should seriously consider it.

1. You don’t have to pay for a full time employee.

Do you currently have a full time IT guy? How much are you paying him? My guess is more than 40K per year, and then some. You’re also probably providing him employee benefits such as health insurance, dental insurance, or even a 401k plan!

For small to medium sized businesses, having a full time IT team or even just one person can be costly. These guys possess highly specialized skills so they don’t come cheap. But is there a way to cut down on those expenses? Absolutely. Simply hire an outside IT management firm, and they’ll handle all your computer related needs for a fraction of what you’d pay a full time employee. You don’t have to offer benefits, either. You reap the benefits instead.

2. You can concentrate on the business side of things.

Running your own business means that you’re constantly juggling multiple roles. Aside from being the boss, you’re most likely the head of human resources and the lead salesman as well. Don’t try to be the IT guy, too. This job requires specific know-how and can be extremely time consuming. If you’re trying to fix computer problems yourself, you won’t have time to build your business. Outsource so you can focus on customer relations and marketing efforts, or in other words, the things that make you money.

3. You gain access to a wider knowledge base.

Having an in-house IT guy gives you a fairly limited knowledge base. After all, how much can one person know, as opposed to a group of people? An outsourced team that is well researched and capable of specializing in various aspects of IT management will offer you a broader range of computer expertise.

4. You can stay on top of the latest technology.

You know how technology is – it’s constantly evolving. You can’t always keep up with all the changes, but an IT company can do that for you. Since they specialize in technology, they’ll always know what’s new, what’s hot, and what’s not. They can also tell you which systems or software are good investments and which ones aren’t. Mitigate your risks by enlisting the help of a reliable IT firm.