This topic is a touchy subject in many quarters, and it needn’t be.
Most businesses and professionals work very hard to get business through the door and use their not inconsiderable intellect and depth of experience to provide a very good and profitable result for their clients. Where they often let themselves down is in making sure they are paid in full and in a timely manner.
There are any number of methods to help in this area. The common thread to all the sucessful methods is consitency, communication, simplicity and time allocation to the task.
It is also worth considering if there is a better way to manage this process. For instance, can it be achieved at a lower net cost? Can it be appropriately automated? How do I communicate my credit requirements to my clients without scaring them off?
As a start, set clear policies at the outset of a credit agreement and never be afraid to ask Accross Business or another expert for help.
Now is a good time for you or your clients to arrange a review of your processes to ensure you are ready for the difficult year ahead.
Making and managing change is not always easy, but it is often necessary.