It happens time and time again. A customer has every intention of paying on time but suddenly life gets in the way and they miss a payment.
Your debt recovery process is one of the key things that can benefit your business exponentially if it is jumped on early. The process itself can be set up to do a lot of the heavy lifting for you, working like clockwork to help your customers pay you.
In this blog, our resolution team share 6 ways your business can politely but firmly encourage customers to pay on time.
Ensuring you get paid on time ultimately starts with you.
Removing any barriers to payment and making the payment process as flexible and easy as possible, is the order of the day here.
It may seem obvious but clearly communicating your payment policy ensures no one has any surprises and can be a key step to avoiding escalation to a debt collection agency like us here at EC Credit Control.
Effective cash flow management is all about collecting the right info from the start. Credit checks are a great way to protect your business and ensure the payment terms are realistic and sustainable for your customer.
When you have gone to the effort of putting in place robust terms of trade and credit policies, it makes sense that you should put this asset to use.
If you still have no payment after month three, your chances of getting paid to reduce exponentially by the day.
Your Business Support Specialist is available to come and talk you through what we provide with a complimentary consultation. During this, we will:
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