Collections Etiquette: How Far Should You Go?
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Learn the techniques and tools needed to secure timely payment from customers.Getting customers to pay and pay on time is a challenge faced every day by all companies who sell on credit. Cash flow is the lifeblood of any business. There are many techniques and tools used to secure timely payment from customers. A key dilemma facing every company is: how hard can you push and how far can you go to collect money owed to you? The answer is different for every company, influenced by law, ethics, the customer base, the product/service offered, and the posture defined by leadership. This topic will provide you with the information, based on experience with over 250 companies, to enable you to determine the tactics you will use and the limits you will impose at your company.
AuthorsJohn G. Salek, Revenue Management Associates, LLC
The Determinants of Collection Etiquette
• Market Position
• Accounts Receivable Strategy
• Customer Base
• Nature of Product/Service Offered
Developing Your Collection Etiquette
• Customer Analysis