Third Party Collections
The primary benefit of Third Party Collections has always been that it is performance based. Outsourcing to a third party typically means they don’t get paid unless they recover “uncollectable” payments. This can lead to unpleasant experiences for your customers when quantity is emphasized over quality.
Traditionally, Third Party Collections companies gave you the ability to focus on other parts of your business. They often have access to proprietary technology not available to most organizations.
Today with Chargent’s Automated Collections, those last two benefits can be achieved through First Party Collections.
If you are using Salesforce, you now have access to automation technology that allows you to efficiently collect on debts. Many manual processes like retrying payments or sending emails are automated, allowing your collections team to focus on higher touch activities such as phone calls or setting up payment plans.