We are in the debt of pest control specialists everywhere. These companies keep our homes and businesses free of the pests that spread disease in the human population. But unfortunately, these busy professionals have another type of debt plaquing their businesses – past due debt from their clients.
Pest Control Industry Outlook
The pest control industry is expected to grow by six percent by 2022. This is due, in part, to the increase in adverse weather events that drive rodents and bugs inside, increasing the need for pest control services.
But industry trend analysts say that the pest extermination industry is vulnerable to economic downturns. Consumers will cut these services when the economy crashes, which makes past due billing and collections an increasingly important part of best business practices for pest control companies.
Most pest control companies are small players in a big market, and a large share of these firms rely on repeat customers for a significant portion of their revenues. That makes pursuing past due accounts receivables even more touch and go; how can these companies carefully negotiate payment while being careful not to poison their brand image?
The answer is Rocket Receivables.