Florida Commercial Collection Agency
Tuesday, September 25th, 2018 | The Cash Flow Group | Comments Off on Florida Commercial Collection Agency
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.
- Know your customer and their business. Are they impacted by seasonal cash flow etc.?
- Deciding what strategies you will use to stay on track.
- Set goals for yourself. For example – reduce DSO by 12% to improve cash flow.
- Deciding and outlining which strategies you will use to achieve its goals.
- Create effective call scripts so the conversation flows well and you can effectively manage objections and/or stall tactics.
- Measure your results to see what works and what does not. Establish key performance indicators (KPI) to help benchmark future results/ activities.
- 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.
- 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.
- 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.
- 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!