A few landmark cases in Australian courts have highlighted the importance of following debt collection guidelines when recovering overdue cash from debtors. Thanks to high profile cases like these, debt collection practices have improved. They serve as good reminders of what not to do.
B2B businesses are especially vulnerable to bad debts as transactions often involve extending credit to customers. Here are a few tips that can help you minimise and manage the risks associated with them.
Gain a deeper understanding of the impact of late payments on your business. We list down the true costs of late payments – and ways you can prevent them.
The financial health of your company depends on how well your business can collect on sales. Unfortunately, it is often performed with inadequate forethought to the systems, staff, strategy, and tactics to deliver exceptional results. And businesses find that their customers are using them as a bank, with many overdue invoices impacting the cash flow and growth prospects of the company. Here we will look at how it is possible to increase your company’s cash flow performance with better planning, execution, and technology
In this post, we break down the anatomy of a demand letter so that you can create a compelling piece of communication that expedites cash recovery.
A collection call may be a dreaded task in credit management, but it shouldn’t be. Use these tips and collection call scripts to simply get paid.