I have always felt that in order to increase awareness of the benefits of Credit Management, you need to be in a position to guide and offer advise on best practice.
Below I have outlined guidelines to draw upon that will benefit your company.
Most companies, especially when the business climate is tough, tend to overlook the basics.
- Know your customers. Regular late payers may need a tougher approach than your first time buyers.
- Plan the call. Is it a first request for payment or the latest in a long sequence of calls on the same overdue account?
- Focus on objectives. What do you want to get out of the call?
- Prepare for excuses. What reasons might they use not to pay? Have your answers ready.
- Keep it business-like. Don’t allow the call to get personal or you’ll not be objective.
- Call direct. It’s easier to get who you want on a direct line than through a switchboard.
- Keep accurate records. Record promises made and by whom – especially important if you have to make a further call.
- Insist on action. Don’t be fobbed off with vague promises of settlement. Agree firm dates and methods of payment.
- Follow up. Make another call if the customer doesn’t honour commitments.
- Get specialist help. If you feel that you are getting nowhere contact us, as we offer National and International Business Debt Collection service on a “No win, No fee” basis.