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F.A.Q.

  1. What is Credit Recovery or Debt Management?
  2. What does a collection agency do?
  3. Are we the same as ‘loan sharks’?
  4. What is AR Outsourcing and why do you need it?
  5. Why do you need us?
  6. How can we help you? What are your benefits?
  7. How does it work? What are our methods?
  8. How do you integrate into my company’s account?
  9. Are you legal?
  10. Who are the people we work with?

1. What is Credit Recovery or Debt Management?
In general, ‘Credit Recovery’ refers to the recovering of outstanding payment from debtors. ‘Debt Management’ is an art and system of operation in recovery outstanding debts.

2. What does a collection agency do?
As an third party, a collection agency takes care of its client’s AR accounts, helping them to recovery outstanding invoices, chase their debtors for payments, manage their client’s AR by minimising bad debt and by persistent means to recover it. Sometimes, we may even employ legal action.

Accolade Advisory Asia is an agency that under takes all these activities.

3. Are we the same as ‘loan sharks’?
No. We have nothing to do with ‘loan sharks’. Accolade A.A. is a legal company; we have good business ethics and professional code of conduct. Our works and results are attained through legal activities and personalised labour.

We do not engage in any illegal harassment of any form.

4. What is and Why AR Outsourcing?
To stay cash rich, companies have to manage debts owed to them by collecting payment on time.

Some companies, especial SME of less then 10 staff, do not usually have a department dedicated to handle separate receivables and payables accounts; the job us usually done by a single person who also does many other admin task. Where it takes some taxing effort to deal with AR, the results on chasing payment owed to you are usually slow and sometimes the 2 parties can end up in a bad relationship. This is because asking for money is a communication art. You have to be trained and it can take laborious efforts.

When manpower is limited, most of us cannot spare full time effort to complete a single task. In SME where accounts department is small, it makes more economic sense to out source to a professional party to undertake your AR task. By doing so, you get to concentrate in other business issues, at the same time your Receivables accounts are taken care of.

Accolade A.A provides AR outsource service where we can take care of all your receivables and make sure they come in timely. This way, you only spend a fraction, as compared to hiring dedicated staff, and get things done in full time.

5. Why should I need you?
To ask for payment is an art; even though the money owe to you by your customer is a-matter-of-fact, but to chase long dated debt and bad payment from your customer without decrementing the relationship would be a difficult task to be handled by anyone.

Accolade A.A has the expertise and dedication staff. We know how to ask for payment and what to do to recover payment.

We will case study your every client and understand their situations to make things easy and good for everyone. More often then not, it’s a win-win situation.

6. How can you help me? What are my benefits?
With our expertise, companies and organisations like yours have recovered their backlog account. We managed most cases to 100% recovery.

Your account staff and department get to concentrate on other administration duties, expanding resources while minimising blockages in operations.

By freeing up your time, which you would have otherwise used for chasing debts, you are able to focus on other issues and perform more active business development.

Accolade A.A wishes to work with you as a strategic partner to help you cover areas of specialisation.

7. How does it work? What are your methods?
First, we will study your debtors and do a classification. Each debtor is being assigned to a designated officer to follow up through the case is closed. Daily, we will record call or side visit made and generate reports for analysis.

Accolade A.A approve methods are personalised. We start off with regular reminder messages and documents, and then proceed to site visit if necessary. Legal actions will only take place upon client’s request.

A model of our system is illustrated here.

8. How do you integrate into my company’s account?
Upon acceptance of each case, we will study and understand your trade and invoicing convention. We would then customise our administrative format to suit your business process.

Both the client and Accolade A.A will update the progress and accounts balance actively. We will generate reports and worksheets for your record.

Our staffs are professionally trained and we work in strictest confidentiality.

9. Are you legal?
Yes, we are totally legal and highly effective; we gain our success through proper channels and are also transparent in what we do. We also have our strategic attornies and advisors in place to help you settle business dispute or take legal actions if necessary.

10. How do you charge?
Accolade A.A. services both private and government organisations. We have great experience dealing with medical accounts and the securities industry.