TASCollect Ezine

Despite troubling times we have not seen a huge drop in the number of payments made during the pandemic period of March – May 2020. We noted a small variance in April, in the number of payments received but this recovered in May.

The current events associated with the COVID-19 pandemic are confronting for all Australians and Government actions require all of us to make changes each day.

Tasmanian Collection Service has a Business Continuity Plan that addresses the risk of a pandemic. In order to help keep our staff and clients safe, whilst also ensuring there is no disruption to the services we provide, we now have a significant portion of our staff working remotely. We have had flexible working practices in place for a number of years, so we are […]

Our clients are becoming more aware of the requirements around dealing with customers who are at risk of or who are experiencing hardship and or financial vulnerability.

TCS is committed to a best practice approach to debt collection and as a result in November our collection team participated in best practice training on supporting customers through hardship & vulnerability via eMatrix, a firm specialising in this subject.

The training included how to identify vulnerable customers, identifying and understanding the best questions to ask to negotiate the best outcome for both the […]

Understanding the buying & payment patterns of your customers is key to detecting when there could be in impending problem. We asked Credit Manager, Leigh Garth to share some of her experience.

1. Monitoring payment patterns. All of a sudden, the customer is getting later with their payments, however I am mindful of seasonal factors. I check patterns in prior years, matching the same period to ensure it is only temporary slow payment – (contact and put in a diary note for follow up)
2. Have they changed method of payment? […]
   

Tasmanian Collection Service allocates each of its clients an Account Manager who’s role is to assist you. They will seek to understand your business to determine how TCS can assist you best. This doesn’t relate only to matters placed with us for collection, your Account Manager will do their best to answer any credit or debt related questions you might have. Our Account Managers will seek to build a relationship with you based on our company values of Honesty, Integrity, Respect, Fairness & Confidentiality.

In terms of debt recovery, no […]

There’s no doubt we can be firm in collecting money, but we’re equally good at giving!

The staff of Tasmanian Collection Service have been actively fundraising for charities since 2000. If you visit our office on a Friday, you will see that we ‘dress down’ for the day in exchange for a gold coin donation. We participate in other fundraising events such as quiz nights, morning teas, raffles, and all so that we can support local charities.

We have donated in excess of $60,000 to charities and in recent years have […]

Tasmanian Collection Service has long been regarded as a leader in the Tasmanian mercantile industry and has assisted hundreds of businesses with the recovery of their bad debts.

A business’ debtors are one of its best assets but poor management can contribute greatly to cash flow shortages.

Often, particularly in smaller businesses where staff numbers are limited, the business owner is forced to become a “jack of all trades” taking them away from the core business function that drives revenue. A larger business may find itself short staffed when employees take […]

Consumers often pay for goods or services at the time that they are performed or handed over.

Sometimes, however, you might agree that the consumer can pay for the goods or services at a

Asking for money is not everyone’s cup of tea but at Tasmanian Collection Service our staff are well trained to do just that. Part of ensuring our success is recruiting the right people for our roles and we’ve found that there are some traits that are particularly suited to Debt Collection.

Being able to look at a situation logically and to break it down into smaller pieces and to action accordingly can often be the difference between collecting or not collecting the debt. For example, looking at why the […]

If you’ve extended credit to a business, the following tips may alert you to a looming problem and assist you to avoid bad debt.

If a well paying customer suddenly changes their payment pattern this could indicate there is something else going on that you need to be aware of. Sometimes it could be as simple as the person you dealt with moved on and so your invoice is not being actioned appropriately, but it could mean that they are having cashflow issues, make contact asap.

If a […]