Are the any companies that will take care of sending out invoices by snail mail to the handful of clients who are very large or who are very overdue? I think that would be a great service. Wonder if it exists...
You could, for example, just forward them the billing info and the amount owing and they mail it on your behalf.
Id be willing to pay 1.50 Canadian per invoice for something like that since my volume is low. Dont know whats available, maybe it would be more expensive, i dunno. Perhaps collectively we could get enough people who want it and then find someone who wants to make a company out of it.
In fact, it would be great if there was a company that sorta did "middle-level" collections... just gives the client a call to remind them its due and takes a message if they have questions.
It really depends on the value of your invoices, but you might be able to look into "factoring" as an option. As you used Canadian currency as the example, I will assume you are North of the border Do a Google search for "factoring".
In short, it is somewhat like collections right from the get-go, but it won't affect their credit score right away.
Here's the cycle:
1) You create an invoice for your client
2) Send the invoice to the factoring agents
3) They pay you a percentage of the invoice (ie. 80%) right away.
4) The factoring agents then contact the customer to collect the entire invoice.
5) Once the invoice has been collected, they pay you the remainin 20% minus their fees.
Please note, that a business consultant of mine just recently told me about this as a quicker alternative to collections and I have yet to use it. However, throughout my readings on it, it does appear to be a valuable service that we are seriously considering.