What is CollBox?
CollBox is an app that provides debt collection at the push of a button. We asked them 8 questions, as a part of our “What Is” article series, to learn more about their app and their company.
What is CollBox, what do you do, & when did you get published on Intuit’s Apps.com?
CollBox.co – we help practitioners and businesses collect on aging receivables in an easy, data-driven way. We have been on Apps.com since early 2016. The prototype for CollBox was actually created during QuickBooks Connect 2015 as a part of the Hackathon – and went on to win the Grand Prize!
What was the main problem you were trying to solve when you first developed your App?
Past-due debt puts small businesses in danger by stalling cashflow. Each year 82% of the businesses forced to close their doors cite cashflow as the main reason. With stronger analytics and the right workflow, business can collect more of the cash they are owed, and improve their chance of long-term success.
What companies (or users) are the best fit for CollBox?
Any company can use CollBox to assess and monitor the health of their A/R. If their Collectible report identifies accounts needing further action, CollBox helps them quickly and easily get those accounts into the hands of the best collection agency possible – significantly increasing the chance of recovering their revenue.
CollBox has been a great fit for accounting professionals who specialize in helping small to medium-sized businesses (who are particularly vulnerable to the cashflow issues created by aged receivables). Some business categories that have been a great fit are professional service providers, commercial real estate companies, and administrators or recipients of insurance as a funding source.
Tell us about your users’ top 3 favorite features or benefits.
- CollBox’s Collectible Report, which allows companies to keep tabs on the health of their A/R in real-time.
- Our seamless live integration with cloud accounting systems (like QuickBooks Online) for accurate, immediate bookkeeping data conveniently sent to the collections agency.
- The ability to send an overdue account to the “best fit” collections agency with just a few clicks – and the fact that that agency gets to work on the account within the hour.
Also, the favorite feature of our CollBox Accounting Partners is our Client Dashboard – which allows them to easily invite, manage and even provision CollBox accounts for their clients.
Tell us about your company’s culture and leadership.
The company’s leaders have a background in software and professional services, and we are passionate about helping businesses succeed and get paid for their hard work. https://CollBox.co/about-us/
How is CollBox different from your competitors?
The two main things that set CollBox apart from other solutions are…
- Our ability to provide actionable insights that users can act on the right within the platform.
- That we’ve chosen to partner with the best collection agencies vs becoming one ourselves.
We empower our users to collect on any account without the legwork of choosing the best agency for them each time or being stuck working with an individual collector. This results in a higher probability of collection.
What is the pricing?
There is no monthly subscription cost to use CollBox for visibility and analytics into a company’s A/R. There is only the industry-competitive contingency fee and only if a collection is successful. CollBox makes it easy for the user to understand and agree these rates and collection agency terms.
Does your App have any programs for Quickbooks ProAdvisors?
YES. We’d love to invite all members of the QBO Chat family to create their free account & join the CollBox Accounting Partner program.
Joining our partner program gives ProAdvisors easy (free) access to CollBox, in addition to “unlocking” exclusive product features and program benefits. Our Accounting Partner Resource Center is filled with tools, templates, and actionable assets that enable our partners to create even more value in their work with their clients.