I'm happy to share that the team behind Enrich Layer is launching Accountgram today. Accountgram is a digital B2B debt collection service with a 32.5% success rate from 64 collections, and an average of 12 days to collection. Accountgram is the key that reduced our customer churn rate from 15% to 3%. We are able to accomplish this feat in Enrich Layer by:
- Employing annual contracts (coupled with PAYG plans for casual/one-time use)
- Enforcing contracts with Accountgram
With dramatically lower churn, growth on Enrich Layer compounded exponentially to the tune of 250% per year. Accountgram enforces B2B collections with teeth in two additional ways beyond dunning (aka nagging):
- Public debt database, which leads to reputational consequences
- Data-driven escalation to employees and possible vendors
Here's the thing. As a business owner, we have to deal with bad actors who breach long-term contracts on a whim. There is this decade-old 10M ARR company that sought huge discounts from us, claiming they hire a lot of Ukrainians affected by the war, and that they’re in it for the long term. I relented and gave them big discounts because they are big and surely would respect a contract, right?
Nope. They took our discounts, our data, built a prototype, decided it wasn't going to work, and then proceeded to ghost me. This is just one of many instances we have to deal with.
And it really grinds my gears because, for sums between $1 and $10,000, there just aren't any scalable ways to enforce these breached contracts. And these bad actors know. Our average sum to collect is $539 from customers who sign up for the 12-month plan with a monthly payment of $49, then block the card the next month after milking the discounted credits in the first month.
Small claims filing costs $850 in the Californian courts with the cheapest law firm. And nagging just does not work.
This is why we built Accountgram. There must be teeth in the collection process. We read through the regulatory scriptures of B2B debt collection in the US, and we employed every trick we can legally deploy that is both scalable and ethical.
If you have any bad debts at all, why not give Accountgram a go? There are no upfront fees. We collect fees if and only if we successfully collect on your behalf.
If you have any bad debts, you can also email the invoices to [email protected] and we'll immediately begin the collection process on your behalf. If you have any questions about Accountgram, you can send me an email to [email protected] and I'll be sure to respond to you personally