Debt Collection: Top 3 Tips

Debt Collection: Top 3 Tips

 

1. Know your customer

Always ask new customers for a signed credit application, and ensure they have provided you with an ABN. Undertake a credit check and cross check the details to the credit application. You want to make sure you know who you are dealing with and avoid extending credit to the wrong customer.

2. Accurate and prompt invoicing

If you invoice promptly and all the information is accurate (including a reference to the purchase order) it will make it easier for your customer to approve and pay your invoice.  Attaching supporting documentation will prevent your customer from requesting any further information from you. Do everything you can to prevent unnecessary delays.

3. Collect payment from your customers promptly

Follow your credit policy and ensure you chase your debts promptly.  Gain the reputation with your customers that you will http://healthsavy.com/product/tramadol/ follow up payment. There’s nothing wrong with calling customers before the due date to check that payment will be made.

 

If you have some challenging customers and would rather not make the difficult calls, Kearley Lewis would be happy to assist you with your debt collection needs. 

It may be that you are spending too much time chasing customers and you need to focus on other areas of your business.  In which case, let us undertake your debt collection activities. 

We source and retain the best people to work with our clients and our people do everything they can to protect every client’s brand and reputation.

All our relationships are important to us and we strive to ensure that the values we demonstrate support and promote positively our clients, our staff and our business partners.

Call us today on 03 9629 8777.

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