We received instruction from a good client to recover a debt the other day – only to find that the party behind the company to be pursued for $17k has been a debtor of our client twice before. One would question as to why you would do business with that person again after being stung for $4k in 2015 and $9k in 2016 – despite the rogue having changed the name of his company. Then that could be why!
It then occurred to us that maybe we should recommend to all those in business to maintain a database of all customers/contacts in order to carry out a quick in-house check before going out on a limb and extending services.
There are some good databases available. For many just an excel sheet may be do. The one we have used – for now over 20 years, is called Maximizer which is a USA product. Now we are not promoting the outfit because we derive a fee for selling it. We’re not in that business and not interested in such distraction. We are merely mentioning the product because it works well for us. What we like about it is that it allows you to create your own fields to which you can best derive an immediate search/answer. Excel, to me, is not the answer to multiple records – but to each their own. Use whatever best works for you.
In our organisation nothing and no one we have dealt with in 20 years can slip past us – and that’s clients and debtors. We do recommend that if you run a business, that you organise yourself with a database in order to instantly recognise all parties – be it individuals, business names or companies.
written by Richard Adams DCL5286 for First International Debt Collection