Debts can be either commercial (B2B) or consumer (B2C). However, when all the attempts of debt collection fail, using or hiring a third-party debt collection agency seem mandatory. Therefore, the company can concentrate on their core functions and improvement instead of chasing the unpaid bills. Larger businesses have bigger challenges to manage AR or account receivables and know when to engage a debt collector. Here are multiple factors that help the businesses optimize their internal collection processes and take lessons on the most effective time to engage a collection service or third-party.
