Improve Customer Satisfaction with Credit Collection Best Practices

Many professionals outside of the AR department, and maybe those who are active in AR, feel as though asking or demanding payment from customers will negatively affect your customer relationships. Fortunately, this widely held belief is just not true. Your customers will not get upset of leave your company because you asked for payment for products/services provided, they know they owe you. In fact, better accounts receivable management can significantly improve customer satisfaction and retention. If your customers are leaving you, it’s not because you’re asking them to pay their bills, but it may have something to do with the way you go about collecting invoices. By implementing proven credit collection best practices, you can not only provide better customer service and increase their satisfaction, you can increase your cash flow and grow your business too.

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Collecting Unpaid Invoices: Every Customer is Different

Collecting unpaid invoices is not easy and it’s important to have a standard process for collections, but different situations call for different tactics. Here are a few general types of non-paying customers that need to be handled differently and a few suggestions on how to work with them:

· Will Pay – need a reminder: Call or send a note to remind them.

· Will Pay – on our terms: Deal with it for now and let them pay you on their terms, but decide if the customer is worth the longer payment cycle in the future.

· Will Pay – when an issue is resolved: Fix it and follow up by asking for immediate payment once the issue is resolved.

· Can’t Pay: If they are truly unable to pay and are willing to negotiate then set up a win-win payment arrangement. If this is just one more stalling tactic treat them as a “won’t pay” customer.

· Won’t Pay: Be firm and consistent in collecting until your efforts hit a dead end, at which time turn the account over to collection.

· Can’t Find: Turn the customer over to professional collection.
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The Faster Way to Manage Accounts Receivable in QuickBooks

Accounts receivable management is a critical factor in ensuring the financial health of any business, and the internal processes you use to manage and track invoices plays a massive role in your overall success. Put most simply, late invoices mean late payments; fast delivery and frequent invoicing allows your customer plenty of time to process and send the money owed, which means you need to get the invoice in their hands ASAP. Managing accounts receivable in QuickBooks and invoicing in general takes time, and your collection employees are busy…so how can you put that into practice in your company? Continue reading

Accounts Receivable Management: Ensuring Payment When Your Customer Has Cash Flow Problems

If your customer is experiencing cash flow problems it is very common for them to delay payment. If this is the case, you need to rectify the immediate situation as soon as possible so that you can get paid what is owed to you. Likewise, you need to make some changes to ensure that you are not at risk with the same customer going forward.

In the first half of this article, we outlined three strategies you can try if you have customers with cash flow problems including penalties/discounts, credit cards, and payment plans. Below are a few more tactics to help your accounts receivable management team to not only help your customer, but to improve your relationship with them and ensure you get paid the money owed to you too. Continue reading

7 Mantras for Accounts Receivable Collection Phone Calls That Work

Accounts receivable collection phone calls take more than contact information, a phone, and your voice if you want them to work. Even the smallest factors can influence the outcome of your collection call such as your voice, emotion, tone, your ability to control the conversation, etc.

Try these 7 mantras during your accounts receivable collection calls to help improve your success rate. Continue reading

Improve Accounts Receivable Management without Hiring Additional Staff

 Here is the scenario: You’re a successful company with a growing business and an expanding client list- that is great! But you are having trouble with your Accounts Receivable Management; your accounts receivable turnover is low, you are understaffed and are not ready to commit to hiring new employees, your DSO is nothing to be proud of, and you are having cash flow trouble because you just cannot get customers to pay you on time…this is not so great. You are not alone.  Many companies find themselves in the exact same position.

The problem always is time. Continue reading

New White Paper: Sage MRP and Anytime Supply Chain Software

This white paper will delve into the bowels of the Sage MRP software and Inventory Replenishment software modules offering insights into how the module works, what underlying fields affect Sage MRP software calculations, and it will offer some tips and suggestions for extending the Sage MRP software module even further with new features from the e2b Enhanced MRP and Sales Forecasting modules from e2b teknologies.

The goal of this white paper it so help readers understand how to manage inventory and how to plan inventory using inventory management software and best practices. Continue reading

Anytime Supply Chain Software Comparison with Sage 500 MRP Software

supply chain softwareAnytime Supply Chain software is the next-generation MRP software and DRP planning software and sale forecasting system for users of Sage 500 ERP. While the system supports most of the same features as the e2b Anytime 500 Enhanced MRP software and e2b Anytime 500 Sales Forecasting software modules – not all functionality has been developed for Anytime Supply Chain software at this time. Below are some of the gaps between the two systems that will be considered for future development over time.

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Demand Forecasting In Sage 500 ERP (MAS 500)

There’s A New Way to go about Forecasting Demand in Sage 500 ERP (MAS 500)

Anytime Supply Chain software allows companies to manage their supply and demand more effectively. Companies that do not have sales demand forecasting within their ERP business systems can use the Anytime Supply Chain Sales Forecasting software module to help drive their demand planning process. Continue reading

Food & Beverage Company Chooses Anytime Collect AR Management Software for Sage 500 ERP

e2b anytime apps, publishers of Anytime Collect AR management software, is happy to announce that a new customer has chosen to use Anytime collect to work along with their Sage 500 ERP System. The new customer, a privately owned reusable packaging company, will use the AR management software to work alongside their ERP system to more effectively and efficiently manage their accounts receivable. Continue reading

Engineering Change Order Effectivity Dates & MRP Sofware | Sage 500 MRP software


Engineering Change Order Effectivity Dates & MRP Sofware

Changes made to your bill of material software obviously have an impact on your MRP planning process and DRP planning process. For example, a vendor may notify you that they are replacing a model of their part with another. This will result in the receipt of a new item which will need to be integrated with your new bill of material so you start ordering the new part and planning to use-up existing stock of the old item. Continue reading

Demand Forecasting Software Options – Sales Forecasting Software by e2b teknologies

sales forecasting softwareAnytime Supply Chain Software & Sage 500 ERP (fka Sage MAS 500) MRP/DRP
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Demand Forecasting Software Options – Sales Forecasting Software by e2b teknologies

In the previous article we highlighted two ways that companies try to trick their ERP systems into handling forecasts even though the applications do not natively have the required functionality. In this article we will show how Anytime Supply Chain software handles demand forecasting. Continue reading

Collections Software & Secure Financial Information

Did you know that you can achieve a certain level of Security with A/R Collections Software? Securing financial information is critical to all businesses – especially those who need to collections softwarecomply with Sarbanes-Oxley (SOX) requirements.  Sarbanes-Oxley is a bill that was enacted as a reaction to a number of major corporate and accounting scandals. The legislation set new or enhanced standards for all U.S. public company boards, management and public accounting firms. It does not apply to privately held companies. However, many SOX requirements represent good business practices for smaller, privately-owned companies. Section 404 of SOX outlines requirements related to the scope and adequacy of internal controls and procedures for financial reporting. Continue reading

What kind of companies do well with B2B ecommerce software?

You have all heard the hype about B2B ecommerce software and the many benefits it can b2b ecommerce softwarehave for any B2B company looking into selling online. If you have been reading our ecommerce blog articles, you know that it is a growing market and has already become bigger than B2C and has nowhere to go but up. You know it has already changed many things and promises only to change the business world ever more- and you think you need it; But how can you be sure that B2B ecommerce will mesh well with your company? Continue reading