→ BUSINESS PROCESS OUTSOURCING (BPO)
Executive Financial Enterprises is an industry leader in outsourcing. Outsourcing is an effective strategy for increasing cash flow without the expense of a large, in-house receivable department. Through outsourcing, EFE provides seamless “first party” collections on your behalf. We can utilize your existing CRM system via secure connections with your network, and our staff will work at your office or remotely at Executive Financial Enterprises’ corporate office.
EFE are experts at increasing your cash flow efficiently. You can leverage our expertise to dramatically reduce the cost associated with managing accounts receivable while simultaneously increasing effectiveness. Additionally, non-responsive accounts are identified earlier, enabling you to authorize appropriate action while the chances of recovery are still very high. EFE can enter the collection process at any point you desire. You can outsource some, or all of your accounts receivable. When you outsource your non-core business, you are able to focus more on your core competencies.
Customer Tailoring: Each outsourcing opportunity presents its own unique set of circumstances. Therefore, we will work closely with you to custom tailor a service that will be ideally suited to meet your needs.
Executive Financial Enterprises, Inc. is in the business of effectively servicing your accounts receivable from order to cash (OC). EFE will provide your company with a deeper understanding of your client in order to serve them better and gain an in depth knowledge concerning payment patterns and processes that make each transaction and customer interaction more profitable.
→ CONTINGENCY COLLECTION/DEBT RECOVERY
The Contingency Collection Program utilizes all of the EFE’s resources to collect our client’s past due receivables. Upon review by our management team, your account is assigned to a negotiator who is an expert in your specified industry. A combination of letters from the firm and our law offices, as well as phone calls from our specialists, are utilized in the collection process. We also have 100% call recording that protects your interests.
If you have an address and/or phone number that is not viable, then Executive Financial Enterprises’ sophisticated and comprehensive skip-tracing methods will locate any new information.
Our professionals are skilled negotiators who can collect your accounts while maintaining your client relationships. You are kept informed of:
- Account Confirmations
- Monthly Status Reports
- Monthly Payment Summaries
→ ORDER TO CASH
To stay competitive, today’s global enterprises are focusing on their core competencies – they want to simplify, accelerate, and grow. True business process optimization raises the bottom line, starting with processing customer sales.
Rather than obtain modest savings and improvements by outsourcing parts of a function, it is important to find a more complete approach that meets your goals, and Executive FInancial Enterprises can help you do this.
→ VALUE LETTER PROGRAM
The Value Letter Program is Executive Financial Enterprises’ most cost effective method of assisting our clients in recovering past due balances. It is a fixed cost program created to provide you with a low cost but extremely effective means of collection, in addition to preventing debtor accounts from becoming a more serious problem in the future. The Value Letter Program is available for all types of outstanding debt.
EFE will mail four separate letters to debtors warning them of their past due debt and demanding payment. You can choose between an EFE letterhead and an attorney letterhead. The letters will instruct the debtor to pay you directly, and can be tailored to meet your industry or individual needs. You may also choose either a diplomatic or an aggressive approach. Debts not collected via the Value Letter Program are automatically transferred to our highly effective contingency collection program.
→ LEGAL SERVICES
Executive Financial Enterprises, Inc. has an extensive national and international attorney network. With your permission, EFE will file suit on your behalf in any jurisdiction. EFE has full-time staff dedicated to the coordination and maintenance of all legal files. Our principal is an attorney, and has set the highest standards of performance within the legal sphere.
Each attorney or firm that we use must be licensed and bonded in their local state and in good standing with the State Bar. Every file is bonded up to $1 million. We have strong relationships with attorneys in all jurisdictions. During the litigation process, our attorneys work with process servers, Marshall’s offices and the courts to provide an efficient and effective legal service for you.
This is a most valuable service that will process your legal files on a contingency basis and keep your cost at a minimum.
→ JUDGEMENT EXECUTION
Executive Financial Enterprises also specializes in judgment execution. Once judgment is obtained, EFE has the resources to actively collect the judgment. We have persons on staff equipped to perform extensive asset searches, file writs of execution, garnish wages, and perform bank levies.
EFE provides legal services on a contingency fee basis. This eliminates the risk of increasing your losses through expensive legal fees which might not result in the actual recovery of your money.
→ CORPORATE COLLECTION TRAINING
EFE can assist you in the training of your staff. Our professionals can train in your place of business or at Executive Financial Enterprises’ office. We provide manuals, role-play training, and phone monitoring that all make your employees more effective customer service representatives and/or collection representatives.
→ PORTFOLIO EVALUATION
Executive Financial Enterprises will send in our professional team to give you an evaluation of how to best liquidate any portfolio. We will assess the collectability of the accounts and give you a plan to execute in the most time-efficient, cost-effective way possible.
→ VENDOR MANAGEMENT PROGRAM
Executive Financial Enterprises is a leader in vendor management programs. We can reduce your staffing needs, and ease the work load of your present employees .We facilitate your third party collection program in the following ways:
- Use transparent and evaluative reports that quickly show the performance of your agencies.
- Utilize our advanced software to prepare and manage the collection inventory that you assign.
- Create a system of competition between your vendors that will lead to improved performance.
- Follow up for you on certain balances.
The vendor management program offered by EFE is a low cost, high return way of improving the performance of your third party collection vendors.
→ DEBT BUYING PROGRAM
EFE can help turn your non-performing receivable into immediate cash by selling all, or a portion of, your aged receivables. Executive Financial Enterprises can customize a program to meet your needs i.e. selling only balances under $5000; selling balances over 360 days old, etc.