Accounts Receivable tasks are a balance between getting paid and maintaining a courteous and professional relationship with your customers. This can be really challenging when you constantly hear the words “the cheque is in the mail” or whatever the current equivalent is.
There are a few things you can do to “systemise the debt collection process” and we’ve covered them in previous blog posts.
The most important thing is to have a strategy of regular and frequent contact. This lets your customers know that you are keen to get paid quickly and professionally. Here are some simple things that are great to systemise:
These are explained in more detail in this Accounts Receivable blog post.
Just like bank feeds, automated receipt scanning and other accounting functions which are becoming automated the process of chasing money is also available as a service.
A company that I’ve written about in the past, ezyCollect is one such provider.
When I think about the service that this company provides it reminds me about how a lot of the digital marketing tasks are automated. You set up a process of events including email AND SMS as well as phone calls so that paying their invoice remains front of mind for your customers.
Read about the ezyCollect business service here. We’ll have some more information from this company soon!
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