Frequently Asked Questions
How will C.A.R.E. work with my receivables?
C.A.R.E. serves as your outsourced A/R partner with accounts that have slid past 60, 90, and even 120 days past due. Through a series of non-alienating letters and phone calls, you can maintain your client base while still having a second voice convey the need for prompt payment. Our easy to use website allows you to enter your own client and invoice information, so you control which accounts will be a part of the C.A.R.E. program.
How much additional time is required to work C.A.R.E. into our A/R?
Virtually zero. Upon enrolling in the service, you’ll be able to have oversight on who gets enrolled into the program, at what point in the aging process you enroll them, as well as other key factors.
Everything is done through our easy to use web based interface, so you’ll always be able to see how your C.A.R.E. program is performing.
How are my customers treated? Even though they are behind in payments, I still want to keep them as customers.
This is exactly what makes C.A.R.E. so unique. C.A.R.E. differs from “hardcore” contingency collections, in that we take more of a friendly, customer service approach. This non-alienating method ensures your client relationship remains intact, but your desire for prompt payment is conveyed through a second voice.
What are pre-collections? How is it different from collections?
“Pre-collections” refers to the point in which you get involvement from a 3rd party. Typically companies will only get involvement from a 3rd party (either a contingency collections company or legal counsel) only after an account goes past 120 days delinquent. Through early involvement, C.A.R.E. gets involved around day 60, increasing the chance for collection, and decreasing the cost associated with collection. The number one thing that affects the collectability of an account is age. C.A.R.E. gets involved early, and gets the job done quicker and cheaper than conventional means.
If I work out an arrangement with a customer, can I stop the C.A.R.E. processing of that customer?
Yes. Because you control who is entered into C.A.R.E. You can also remove someone from the program should you chose to do so.
I may only have a few accounts that go past due each quarter. Is C.A.R.E. still feasible to me?
Absolutely! You can control the amount of accounts you purchase, with a minimum purchase of ten.
I have multiple invoices for a single customer. Does each invoice count as one subscription account?
No. As long as multiple invoices are added to the account at the same time you enroll that account in C.A.R.E., they will all be worked as one account.
Can I assign an account to collections?
If an account goes through the 8 week C.A.R.E. cycle and is not collected upon, you do have the choice of placing that account into contingency collections with Altus, and you’ll even be given a preferred collection rate by being a C.A.R.E. user.
What is the C.A.R.E. Free Replacement Program?
Altus’ Commercial Accounts Receivable Express pledges 100% collection of all submissions up to the quantity purchased. Uncollected submissions transferred to Coface for contingent collection will be replaced at no additional charge until the original quantity purchased is satisfied through collection or settlement. C.A.R.E. Free Replacement Program is not available on all subscriptions. Contact your local Sales Representative for more information.