The Critical “window of time”
There is a critical ‘window’ of time in which you should speak to your customers whose accounts have fallen overdue. Leaving this too late reduces the chances of collection, so the key to converting late or slow payers to swift paying customers is consistent communication within that important ‘window’.
Don’t leave it! The longer you wait to make contact, the more difficult it is to obtain payment. Don’t feel like you are being desperate or over zealous by making your first call within five days of the account falling overdue. Remember, you have already given your client or customer an agreed period of credit.
Customers start feeling appreciated that the business takes time to communicate with them to ensure they have what they need to make payment. It is also refreshing for a customer to have a business contact them if there’s an issue rather than them having to contact the business.
Don’t want to go it alone? The Retriever is here to help. Call us on 0413 487 416.