As we know, "Time is money." Nowhere is this truer than in the world of debt recovery, especially within the construction industry. At Glenwood, we've observed a clear pattern: clients who involve us earlier in their debt recovery processes stand a much higher chance of successfully recovering their funds. Here's why timing is so crucial.
1. The 'Freshness' Factor Debt recovery is significantly influenced by how fresh the debt is. Newer debts are often easier to collect because details are fresh in both the debtor's and creditor's minds. Any disputes or misunderstandings can be swiftly addressed before they become entrenched issues.
2. Maintaining Business Relationships By addressing debts promptly, it's possible to handle matters in a more amicable manner. This increases the likelihood of maintaining a good business relationship once the debt is settled.
3. Swift Action Demonstrates Seriousness When you take rapid action on outstanding debts, it sends a clear message to the debtor: you're serious about recovering what's owed. This can often prompt a more immediate response from the debtor.
4. Leveraging Comprehensive Tools With Glenwood's software, Adept, clients who get involved early can track live updates, submit new claims, and enhance collaboration from the get-go, streamlining the entire process.
A word from one of our seasoned recovery experts: "The early involvement of our team, combined with the capabilities of tools like Adept, can make all the difference in the recovery process. The sooner we're looped in, the better the odds of a successful recovery."
So, if you're facing challenges with outstanding debts in the construction industry, remember that the clock is ticking. The sooner you engage a professional team like Glenwood, the higher your chances of safeguarding your money.