It’s time to act with your invoices

In a few short months, the world as we know it has been turned on its head. The Covid-19 Pandemic has changed everything. It started as a health crisis. It’s now turning into an economic crisis. Where will it all end? The world is said to be on the brink of a recession. According to the International Trade Centre, which supports small and medium-sized businesses, many businesses will be changed forever by this pandemic. Many smaller enterprises will suffer great losses this year. Particularly businesses in the travel sector, as well as those in the hospitality and food catering sectors. In the USA, a major leading economy, it seems like the treasury department will be looking at some grim figures this year. Finance is not going forward and cash flow seems to have dried up. 

What’s Needed to Keep the Economy Alive?

There are all kinds of theories regarding what is the best thing to do to keep the economy alive. There are murmurs about governments support. There are lots of articles in the media about what should be done, by the Treasury, the banks and individuals, to keep businesses from going under and to keep finance in a healthy state. I do believe that there’s simple act that any still existing business can do : Check all outstanding invoices in your AP books and just pay them. It’s the ultimate act of social responsibility. It’s what’s needed to keep the economy going. Instead of holding those invoices and waiting to see which way the economy is heading, go pay those bills. This is the time. This is how to prevent collapse.

The alternative of digital debt collection :

Debt collection has gone digital. The debt collection process was formerly fraught with tension. Debtors sometimes felt intimidated by over-eager collectors. The situation is worse now with the pandemic crisis and social distancing, as all on-site visits are cancelled, With digital debt collection systems, the collector can speak or send reminders to the debtor through familiar channels like Facebook or webchat, or with some specialized proactive online platforms at any suitable time of day. The collector, powered by artificial intelligence, can easily detect who are the bad payers and set the suitable collection strategy or negotiate a set of options with the debtor.

In times of crisis, we, at Algeria Collection Services, do our best to support companies in these difficult times. For this, we listen to them and we do everything to protect their business by collecting their debts using our 100% paperless debt collection solution, if you need to know more about our solution contact us at contact@dzacs.com