This article is sponsored by Linder Legacy Group.
Small and medium-sized businesses are the backbone of our economy. Most of us work for companies with fewer than 1,000 employees. These environments offer perks like the opportunity to learn more diverse skills and the ability to build a close culture.
They also have challenges. A big one? Getting paid by clients. On time.
Not Too Much to Ask
Collecting payment for services rendered or products sold takes resources away from creating new business. Not getting paid is not going to work but debt collection services can charge anywhere from 20-50% of amounts collected.
But what about a third option? Can business owners get paid without the hassle or undue expense? The team at Linder Legacy Group says they can.
Linder Legacy Group formed a partnership with Transworld Systems (TSI), an established leader with 50 years in the industry. Together, they created a new program that offers end-to-end accounts receivable management and debt collection services, specially tailored for small to medium-sized businesses.
According to data from the Census Bureau's Annual Survey of Entrepreneurs, there were 5.6 million employer firms in the United States in 2016. Firms with fewer than 500 workers accounted for 99.7 percent of those businesses.
There's clearly a need for affordable recovery. That's why Linder Legacy Group is shaking up the way accounts receivable and collections are handled for these companies.
Shaken, Not Stirred
Rather than adopt the existing model of high fees and commissions, Linder Legacy Group and TSI built a new one. Once they combined TSI's 50 years experience with Linder Legacy Group's innovative spirit, the new model came into play. As you'll see, this approach is proactive, efficient, and uncomplicated.
It follows that the easiest issues to resolve are the ones that don't occur in the first place.
Efficiency is key when collecting payments due. This is where the partners make a difference. The clear focus is on collection, but Linder's Partner and Marketing Manager, Bronwyn Osburn, explains where Linder Legacy Group and TSI keep the client first:
“Our hope is to collect the money owed and save the client to business relationship where possible.” By having this team step in, “the company can immediately begin collecting on these debts and potentially increase cash flow within 30 days.
Improved cash flow within 30 days? That's efficient. Outsourcing this process not only frees organizations up to do more of what they do best, it insulates them from the process.
Bronwyn also says that it allows small to medium-sized businesses to avoid being viewed as a debt collector, which can be seen by clients as a negative. That's why this partnership offers a full suite of services, including first- and third-party collections, legal claims and attorney network services, bankruptcy processing and proof of claims services, and probate debt collection. They target past due accounts as well as charge-offs.
The simplicity, though. That's the big news for small businesses.
Outsource Your Headache
A flat fee. That's the charge for these services. Linder Legacy Group and TSI know that percentages and surprise fees hit smaller companies hard. There are no calculations or percentages. Clients receive 100% of the outstanding balances collected. This allows small and medium-sized businesses access to these programs on a cost-effective basis.
The model is already working well with clients ranging from doctor's offices to pest control. Client success is the goal and the program is structured accordingly.
No fee. That's the cost for a consultation. You make an informed decision without cost or pressure.
Scaleable fees. As your business grows, these partners will stick with you. The flat fee is still there to stay. It only grows as you do.
This also ties in with founder Bryan Linder's mission: helping people live their passion through entrepreneurship. Offering strategic end-to-end accounts receivable management and debt collection solutions that make your cash flow and business grow is right on brand. He sums it up with this tagline:
Linder Legacy Group helps FIND YOUR MONEY, SAVE YOUR MONEY, GROW YOUR MONEY, PROTECT YOUR MONEY and GO GET YOUR MONEY!
Whether a startup, family business, or another model, it's reasonable to want to get paid. TSI and Linder Legacy Group can help.