CollBox was set up in 2015, by co-founders Ed Luczycki and Cameron Desautels.
It was after months of searching for a solution to the problem of debt collection and, in particular, finding the right debt collection agency. If you want to employ a collection agency, it’s tough to find one that understands your business, charges a reasonable rate, and operates to a high professional standard.
Ed runs his own technology consultancy and every time a customer delayed payment, or failed to pay at all, he ran into the same problem. As a habitual problem-solver, like most engineers, Ed could not believe that there was not already a technological solution.
He tinkered with the idea for a while, and even put together a prototype using QuickBooks APIs. Then he got news of the hackathon at QuickBooks Connect 2015. It was the perfect time to turn his thinking into a workable solution.
With Cameron contributing his rapid development skills, the CollBox hopefuls turned up at QuickBooks Connect with the outline of CollBox, and enough tea to keep Cameron cutting code for the duration of the event.
30 hours later, the first version of CollBox was before the judges, who awarded Ed and Cameron the grand prize of $30,000.
It was success born of real-world experience. Ed did no formal research to identify the market. He WAS the market, and he recognized that there must be thousands of small business owners facing the same challenge. The hackathon win confirmed his instinct, with so many ProAdvisors clamouring for more information and signing up for the full version.
At the heart of CollBox is the rigorous selection process applied to the collection agencies. They are chosen for their professionalism and their knowledge of particular industries, as well their willingness to buy into the contract terms that make CollBox work.
Now, small business owners don’t have to take a chance when they choose an agency to handle one of the most sensitive parts of any business. CollBox only recommends collectors with proven track records, who are dedicated to providing great service.
After all, putting a customer into a debt collection process is never a decision to be taken lightly, especially if it’s a customer that has previously been reliable. With his own experience to draw upon, and his understanding of the realities of running a small business, Ed Luczycki has made debt collection a more manageable, professional and effective process.