We know you’re busy and no matter how important improving your accounts receivable is, it can be hard to find the time and, let’s face it, the energy, to sit down and sift through the countless articles and resources about best practices in accounts receivable collection. To make your life a little easier, we’ve compiled our top 5 most downloaded accounts receivable white papers to help you speed up the research process so you can put these best practices into place and start seeing results. Continue reading
The first communication you have with your customer after an invoice becomes past due can be crucial to your overall collection success. How do you get your point across without creating uncomfortable tension and creating a wall between you and your customer? Your first contact with a customer after the invoice becomes past due is not about demanding payment, it’s about figuring out why you have not received it. Here are 5 ways you can make your early accounts receivable collection communications more successful.
A large percentage of customers truly do want to pay you on time, but somewhere along the line, the ball was dropped and payment was not received by the agreed upon day. This could have been your customers fault, but it just as easily could have been yours. Communication is usually the culprit.
If you are not getting invoices to your customers quickly and remaining in contact with them consistently, it is very easy for them to either forget to pay, or your poor communication gives them an excuse to hold payment longer. But tracking and managing communications and other activies is extremely time consuming, how can you change your processes to improve your accounts receivable collection and get paid faster?