Outsourcing Receivables Lets You Devote Time To The Core Business Of Running Your Dealership
At E.M. Tharp Inc., which operates truck dealerships in California, General Manager Bruce Greer wants to focus on what they do best – providing parts, sales and service. As a result, they have decided to outsource the collection of receivables.
Interstate Billing Service has been taking full responsibility for credit checks, collecting receivables and managing bad debt for the past few years. E.M. Tharp uses DSI Solutions software for the management of its dealerships, allowing for a seamless integration with the IBS system.
“’Recognizing what IBS could offer to our clients, DSI decided to add IBS to its list of industry Alliance Partners,” says Vic Watson, CEO at DSI. “This allows DSI clients to outsource receivables to IBS quickly and efficiently. We have integrated IBS into our software so that at the end of each day the DSI system automatically sends an electronic file of all the IBS customer invoices to IBS.”
“It’s so easy to use,” agrees Greer. “It’s really made a big difference in our cash flow.” The company has 225 employees at its five locations in Fresno, Bakersfield and Porterville.
Prior to adopting the IBS system, E.M. Tharp had mixed results in collecting receivables. “We had some customers who were taking 60 to 75 days to pay. Now we no longer have that problem.”
He says that the IBS fee is similar to that charged by credit card companies. He considers it a small price to pay to no longer have to worry about credit checks and receivables.
IBS takes care of:
- Making credit checks
- Setting credit limits
- Controlling credit
- Providing invoice copies
- Offering multiple payment methods to your customers
- Making collection calls
- Absorbing any bad debts
Greer notes that IBS wants dealerships to retain customers so that they get paid as well. “They respect the fact that our clients are our customers first and work hard to maintain good relationships.”
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