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Helpful
Answers to Most
Who benefits from using the Synergy Cash Recover Solution? What does Synergy do to recover past due debts so successfully? Do I retain control of my Accounts
Receivable? How is Synergy Recovery different from
a collection agency? What kind of results can I expect? Can’t I just do it myself and get
the same results? What if I'm concerned about keeping my customers? How
inexpensive is
recovering my money with Synergy? When
should accounts be submitted to Synergy? How easy is it to submit accounts to
Synergy for processing? How
do I let Synergy know that I've been paid? Does
Synergy provide any type of regular reports? Do
I ever have to make any future commitments? How can I be sure it will work for
me? What do I have to do to get started
Who benefits from using
the Synergy Cash Recovery Solution? Any company that extends credit or accepts checks from its customers. Clients in all major industry groups including health care, retail, service and commercial businesses currently use the Synergy Cash Recovery Solution. TOP OF PAGE
What
does Synergy do to recover debts so successfully? Action inducing in-house letters combined with potential credit bureau reporting "motivate" your customers to pay you faster and at the most affordable rates available. TOP OF PAGE
Do I retain control of my
Accounts
Receivable? Yes, by all
means, because Synergy Recovery
Corp is not
a collection agency. Your business is simply using an outside service with highly
effective and professional recovery tools to consistently follow-up on
your late/slow pay accounts.
TOP OF PAGE
How
is Synergy Recovery different from a collection agency? Synergy helps you train your past due accounts to
make their payments promptly while maintaining cordial customer
relations, all at a significantly lower cost than you’ll find at a
collection agency. Additionally, unlike collection agencies that order
debtors to make payments to the agency itself, Synergy’s client
letters, coming in your name, instruct your customer to make the payment
directly to you. As a result, you receive your money immediately, rather
than after the up to 60 days an agency can hold your collected funds in
a trust account. To see exactly how the Synergy Cash Recovery Solution works, click here. TOP OF PAGE
What
kind of results can I expect? Recovery
rates will vary based on a number of variables including, the type of
account, your industry, and the biggest factor affecting recovery rate,
the age of the account. Our across the board successful recovery rate
averages 62% of all accounts assigned.
TOP OF PAGE
Can’t
I just do it myself
and get the same results? Yes,
of course you can. However, the power of the Synergy Cash Recovery Solution Moreover,
Synergy includes the added advantage of credit
bureau reporting as needed to persuade more stubborn debtors to make
their payment to you. What
if I'm concerned about keeping my customers? Synergy's
services are designed to work without disturbing customer relationships.
This is particularly important if you depend on repeat
customers. In fact, if you request it, Synergy will send out a
"Thank You" letter to the accounts that have paid.
TOP OF PAGE How inexpensive is recovering my money with Synergy? The processing charge for each account submitted
($6.95) is comparable to what it would cost to administer all the necessary
paperwork in-house and significantly less than the cost for credit reporting that
is now included with the Synergy Cash Recovery Solution.
The
Recovery Commission, which starts at
just 5%, is time-driven to help encourage your prompt attention to late
paying accounts. After your customer has paid you, you will be invoiced
at the end of your regular billing period.
When
should accounts be submitted to Synergy? Because
Synergy's time-driven recovery commission schedule
rewards clients for early submissions with rates as low as 5%, accounts
are usually submitted to us within 45 to 75 days. However, you may
choose to use our services at any time frame. This is your individual
business decision.
How
easy is it to submit accounts to Synergy for processing? Just fax the basic information about your late paying
accounts on the form provided to Synergy's toll-free, 24-hour, fax line.
Our Customer Service personnel then inputs your information into our
system and faxes you a Confirmation List of those accounts. You
are regularly kept up to date on all your account processing so you
always know what accounts are being worked and which ones have paid. It
just doesn’t get any easier. To see exactly how the process works, click
here.
How
do I let Synergy know that I've been paid? When
you receive a payment, simply check the appropriate information on your
Confirmation List and fax it back to Synergy. You are regularly kept up
to date on all your account processing so you always know what accounts
are being worked and which ones have paid. It just doesn’t get any
easier. To see exactly how the process works, click
here.
Does
Synergy provide any type of regular reports? Yes.
Synergy
has a full-time customer service department that will provide you with a
written report on an as requested basis. You can know at any time which
accounts are being worked on and which accounts have paid. In
our system, all of your debtor payments are sent directly to you. After
you report the payments to Synergy, you are invoiced at the
end of the billing period. Payment is due within 10 days from the date
of the invoice and is made by electronic
funds transfer.
Do I have to make any
future commitments? No,
never.
You have access to Synergy Recovery’s resources as often (or as
seldom) as needed. The Recovery Requisition Order/Service Agreement
outlines your options and the related fees.
NO up-front
advance purchase is required.
What do I have to do to get started?
If
you're ready to get started now, click
here to request |
