The Cash Flow Group, Inc

Consumer and Commercial Debt Collection Florida

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Fort Lauderdale / Miami, FL

Toll Free: 800.226.2006

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Florida Commercial Collection Agency

Tuesday, September 25th, 2018 | The Cash Flow Group | No Comments

Steps to Making Powerful Commercial Collection Calls:

Florida Commercial Collection Agency – If you don’t have a predetermined strategy in place, you’re probably spinning your wheels – being ineffective and costing your company money.

  1. Know your customer and their business. Are they impacted by seasonal cash flow etc.?
  2. Deciding what strategies you will use to stay on track.
  3. Set goals for yourself. For example – reduce DSO by 12% to improve cash flow.
  4. Deciding and outlining which strategies you will use to achieve its goals.
  5. Create effective call scripts so the conversation flows well and you can effectively manage objections and/or stall tactics.
  6. Measure your results to see what works and what does not. Establish key performance indicators (KPI) to help benchmark future results/ activities.
  7. Make detailed notes of your conversations with your customers. Before hanging up the phone – provide the customer of a recap of your understanding of the conversation. Better to catch misunderstandings now.
  8. Try to establish quickly if the customer is slow paying because of a dispute or cash flow issues. You can increase customer satisfaction by simply listening. If there is a legitimate dispute – deal with it. If it is a cash flow problem – see if you can work with the customer.
  9. Be decisive. If you are getting many promises but no meaningful action (money) then consider bringing in a professional collection agency or lawyer. If you don’t follow through – your customer will take advantage of you.
  10. Consistency is key. Consistent follow up – consistency doing what you say you’re going to do. Customers will soon learn that your invoices get paid before others.

Please call our collection agency at (800) 226-2006 today with any questions or concerns.  The Cash Flow Group is here to help!

 

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The Cash Flow Group, Inc

3389 Sheridan Street

Suite 135

Hollywood, FL 33021

Email: info@thecashflowgroup.com

800.226.2006 Toll Free

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