For every business, the effective management of working capital or cash flow is necessary as it is an important metric in determining the business’s long-term financial health. Without adequate capital, it’s hard to run a business. In fact, the COVID-19 outbreak has raised several working capital challenges; the changes in customer demand & delay in collection of account receivables are negatively affecting the cash flows. To optimize the flow of your business working capital, you should stay on top of your account receivables. You have to make sure the customers will pay you on time, and if they don’t, take strict measures to recover your debts faster. You can think of hiring a Singapore Debt Collection Agency to ensure smooth business operation.


Unlike entrepreneurs who have to focus on several different things simultaneously, debt collection agencies only have one major goal, viz to recover debts. They will invest all of their time, energy, and resources in reaching debtors and collecting funds owed to your business. Their complete focus enables them to get swift results. A Debt Collection Agency will record every detail — how many times they met the debtors in person, number of calls they have made, and so on — which comes in handy in case if you decide to take debtors to the law court. Further, involving a third party can flush out the reasons for your customers being unhappy as the entire strict actions have been taken by the agency itself, and not you.


For your company, you should approach the right debt collector. These days, several service providers are popping up in the market; you should make your decision wisely after investigating enough about the company, considering all the below-mentioned points-


  • Their understanding of the debt collection industry

They must understand every aspect of the debt collection, be it invoices, different regulatory laws, right time & steps, and more. They must have relevant skillsets and handled the cases like yours (from your niche industry).


  • From how many years they have been in the business?

Identifying the company’s establishment year is beneficial. They must have sufficient experience in the field. The more experience the company has, the better it can collect the debt and come out victorious.


  • Check out the company’s reliability factor

There are so many companies present in the marketplace; not all of them are trustworthy. Therefore, to access the reliability factor, you should check out the testimonials, online reviews, and success stories of the shortlisted firms to determine what others think of them.


  • Ensure the firm is legitimate

Hire a legal debt collector that helps you get your money back while still maintaining a good relationship with your customer. Beyond that, they must adhere to the rules and law of the government.


You can approach us, Resolute Debt Recovery, for Debt Recovery in Singapore. To recover your money from the faulty debtors, our expert collectors use conventional collection methods, keeping in mind the current law. Till date, we have helped several businesses and successfully managed thousands of outstanding debts.