EFFECTIVE COMMUNICATIONS

While the most critical component of Receivables Management is a good, well-trained individual, carefully designed (based on psychology) phone calls, e-mails, statements, and Past Due Notices are an integral part of the process.

Are yours truly modern? Are they effective?  When were they last reviewed, especially by receivables experts?

It is inefficient, and a waste of time and money if communication practices are not carefully designed to ensure maximum impact and results. What exactly is being said in your communications? How effective are your Notices? Are they getting attention – or being ignored? Is each call to a late-paying client different each time, or are best-practices in place each and every time a staff member reaches out to the client?
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It may well be time to review, with an expert, your current communication methods. Done correctly, in conjunction with enhanced receivables portfolio management, results can often be improved by 50%, 100%, or more – just by changing the way things are done.