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Jun28
Improve Your Collection Procedures
There are some steps you can take to improve your collection efforts almost immediately.  Try any of these tips or all of them and see if you start receiving more payments in the mail.

  • Change your collection or dunning letters frequently, you can make them stronger and more action oriented.
  • Discourage payments on account or over time, or changes in your set payment terms.  To many payment plans can impair your cash flow.
  • When you receive a partial payment, follow up with that customer immediately with a phone call or letter thanking them for their payment and asking for the balance.
  • On larger accounts call or send a reminder when they are just a few days past terms.

Good luck!

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