The experts at American Profit Recovery have come up with a number of helpful tips to help businesses of all sizes navigate their accounts receivables:
Always invoice on time: While many people will take time off during the holidays, it’s important that billing procedures stay current.
Follow up with tact: It’s important that anyone conducting follow up calls do so with diplomacy and respect for the consumer. While many people intentionally fail to pay their bills, most reasons are nothing more than an oversight or hard times. Showing respect and professionalism gives a business a better chance of keeping that customer after the collection process.
Clean up books: There is no better time than the beginning of a calendar year to clean up the books and improve any internal accounting procedures. A business should ensure all services and products have been invoiced for and that any and all billing and invoicing systems are thoroughly analyzed for improvement.
Get help: Reputable collection agencies can get a business paid faster and help preserve the relationship between business and customer. Finding a collection agency that shares a business’s values and has expertise in the industry that business is in, can go a long way in building cash flow and staying on track.
More on how to get a business back on track in the New Year can be found here: http://www.americanprofit.net/
About American Profit Recovery:
American Profit Recovery (APR) is a collection agency (http://www.americanprofit.net/