Saint Petersburg, FL – December 10, 2008 – “The rising costs of running a business and the current economic downturn have been forcing many business owners into bankruptcy,” says Curtis Smith CEO of the collection agency http://www.controldatainc.com/ Control Data Inc. Smith goes on to say, “In order for companies to survive they have been forced to ‘down size’, as well as restructuring.”
With many companies the current economic downturn has forced them to close their doors. For companies to survive, they are becoming creative, finding alternatives for increasing cash flow. Many savings are found in the most unlikely spots. Smith says, “We are a leading Florida collection agency http://www.controldatainc.com/ that is initiating an active campaign for clients to literally save companies hundreds to thousands of dollars.
To understand how this works, Smith (who has been in the industry for over 25 years) said, “Most collection agencies work on a commission basis. The basic idea is that you’re reporting your accounts to a collection agency that collects your unpaid accounts on specific commission. The secret that most agencies are not telling you is that, all collection agencies have hidden costs that ‘add up’, these are billed in addition to commissions. For example. if your local collection agency collected a $100 payment at 30% you might be lead to believe that you would receive a check for $70. This is not the case. Many agencies are adding in ‘skip tracing costs’ and credit bureau fees which lower that payment down to almost nothing”.
Smith says, “The real advantage Control Data clients receive is; we don’t charge to place accounts or have any type of ‘internal billing costs’ that lower our clients monetary returns. This alone means that business owners are recovering more of their money back”.
Smith explained that his company was originally designed to help the ‘small business person’; now they have multi-million dollar companies knocking at their door. Smith said, “These larger companies found that you only have two ways to get higher results. One is to collect more of your bad debt and the other is to lower the amount it costs you to collect that bad debt. Larger companies that previously got a 7% return using standard collection agencies are now seeing results in the 18-25% range.” “This helps offset the financial pinch that most companies are feeling. It also allows struggling companies to make it through these harder times until the economy picks back up,” Smith went on to say.
About Control Data Inc.
Control Data started as a company for the small business person. It was opened as a collection agency http://www.controldatainc.com/ that allows small business owners to report their collection accounts and not have to pay the high costs of using larger firms.
For more information contact Curtis Smith (727) 541-5400 ext 404, by email [email protected] or visit http://www.controldatainc.com
