Guaranteeing the financial health of your organisation and maintaining the best possible relationship with your clients: read here how it’s possible to reconcile these two factors.
Credit management is often a delicate balancing exercise. Unpaid invoices have an impact on cash flow and can threaten the financial health of your organisation; but, at the same time, you are obliged to maintain a good relationship with the client, in order to ensure that you can continue working together in the long-term. Discover the best way to reconcile these two factors.
OPEN AND PROFESSIONAL COMMUNICATION
Transparent, clear communication is crucial in credit management. This is the only way you can collect unpaid debts without putting pressure on the relationship with your client. Small details, such as the right tone of communication, make a difference. It’s best to cause as little irritation and friction as possible, but you must stand up for yourself. In addition, it is advisable to consider the following:
Are your terms and conditions expressed clearly on your invoice?
Apply a maximum deadline for payment. Try to agree 30 days, and certainly not more than 60.
Do your terms and conditions mention increases and interest on the arrears after a specific period?
In debtor monitoring, we often hear that the invoice was not received. You can eliminate this excuse by using electronic invoicing (an invoice in PDF format is a valid invoice).
WE PRIORITISE AMICABLE RESOLUTION
In some cases, it’s essential to go to court, but precedence is always given to amicable solutions. This allows payment arrears to be dealt with quickly and effectively, with all parties satisfied. You are not faced with lengthy legal proceedings, and you don’t have to wait too long to get your money. In addition, you save time and energy, and are able to keep focussing on your business. Accessibility, transparency and reporting
If you would like to approach debtor management in a well-thought-out and effective manner - then we have the right solution for you. Aside from speed and efficiency, these are the main advantages of Modero Solid:
Modero Solid’s digital platform is very secure, but can be easily accessed by the relevant parties, using their own software or via web services.
You can gain a real-time overview of all dossiers in seconds. And your client can easily consult his dossier, via a web application.
You can perform detailed data analysis via the dynamic reporting module.