CASE STUDY: AE GLOBAL

CannaBiz Collect Case Study

13 DAY SUCCESSFUL DEBT RECOVERY FOR CANNABIS PACKAGING LEADER

  • AE Global provides custom packaging and supply chain solutions for the Cannabis, Health & Wellness, Wine & Spirits, and Pharmaceutical industries.

    THE CHALLENGE: NON-RESPONSIVE CUSTOMER

    Historically, AE Global has not

    experienced many issues with

    A/R. They successfully delivered

    the product, issued the invoice to the customer, and anticipated timely payment from them without specifying any credit limits. Although AE Global is a company that supports and helps its clients, in this case, it became troublesome when the client didn't respond for longer than 90 days.

    THE IN-HOUSE PROCESS

    The problem was identified by AE Global after 30 days of non­payment. They initially made an effort to collect internally. The project manager was the

    first to make contact while working with their legal team. Next came the sales staff, and ultimately the firm's President made daily phone calls. They made a total of 35 phone calls and sent close to 15 emails, all of which went unacknowledged and unreturned.

    THE SOLUTION:CANNABIZ COLLECTS

    After the debtor remained unresponsive for more than 100 days, they felt it was time to contact a cannabis debt collection firm. They got referred to CannaBlZ Collects, signed the fee agreement, submitted the claim and within 36 hours, the CannaBlZ Collects team was able to get in touch with the owner of the debtor company. The claim was for $6,100, and CannaBlZ Collects reached a settlement for $75% of the debt ($4,600) in less than two weeks. CannaBlZ stated that AE did not have to accept the settlement but did so in order to recover the monies and proceed due to the amount of the invoice and lack of interest in continuing to deal with the debtor.

    OUR PROCESS:CANNABIZ COLLECTS

    Following AE's signature on the

    fee agreement and submission

    of their claim, CBC's team of

    professionals started making

    calls, sending demand letters, and attempting to settle the debt. Normally it takes 30-45 days to offer an official update, yet it only took 13 days for CBC to resolve and settle this obligation with AE.

    TESTIMONIAL: AE GLOBAL

    "Our experience with Cannabiz Collects has been exceptional. The simplicity of the process and the speed and efficacy in which outstanding payments are recovered has been incredible."

    Ready to get paid? Visit us at

    www.cannabizcollects.com or

    get a free consultation today!

    (727) 203-5156