When we takes care of the company, the company will takes care of you....... provide you inform the CEO of all the good deeds and cost savings you did.
Dealing with past-due accounts is not everybody’s cup of tea, but it has an important role and significant impact on the financial state of the business.
Program Management undertakes the well being of the business. When the company’s Finance Department fails to get the payment, this affect cash flow, increase collection expenses and erode profit margins. We do know the ability to collect unpaid accounts deteriorates at an average of 10% each month, and after a year, the likelihood of collecting is just 25%.
Interactive notification can reduce collection cost like stamps, paper and phone bills. Invoice and reminder letter can be delivered at a faster rate using voice, e-mail, fax and SMS.
Shorten the collection period
Start using payment due & late payment reminders and proactive approach improves early payment cycle. A company improves its average collection periods by contacting customers when the payment was almost due will dramatically increase their collection rates & capture payments before customers default.
Increase contact rates
Interactive notifications enables busy signals or answering machines, call backs to be processed automatically until the contact is reached
Enhance customer relationships
Automated calls are less intimidating than a phone call and more effective than direct mail. By contacting a customer is a non-threatening manner, awkward situation can be avoided and cordial customer relationship maintained,.
Private and consistent message
Improve the consistency of message to customers by scripting a pre-recorded message with the appropriate tone. Sending a well targeted message, whether it is a gentle reminder or formal request for payment, leaves a better image of the company.
With the right system in place, substantial improvements can be made to the business cash flow, resulting in increase profit margin and eventually money in the bank for the company.
Kacak5 Management
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