Issue link: https://read.dmtmag.com/i/117828
24 ��� APRIL 2013 ��� WORLD FENCE NEWS The ���customer satisfaction��� collections process continued from previous page do not want to pay, but in some instances the invoice can be incorrect. The first task is to determine just what the appropriate invoice amount is. Under no circumstances should the in- dividual responsible for collecting accounts receivable negotiate a reduction in the invoice to secure payment. Reducing the invoice amount should only be done upon the approval of the owner, president or general manager. ��� Lack of money. ��� Ask when they will have it. Get a definite commitment for the date when a check will be ATLAS WHOLESALE FENCE SUPPLY Barbwire Class 3 Razor Ribbon Manufactured in USA Universal Cantilever Rollers Round and Square Rollers ���t 3��� - 3 1/2��� - 4��� - 4 Call or Email today for pricing and orders 713/772/5591 sales@atlasfenceco.com mailed. Make note of it and call that day to confirm that the check has been mailed. Ask for the check number and amount as a means to help verify that payment has been made. It is suggested that the person responsible for collections make a 1/31 or tickler file to ensure appropriate follow-up is accomplished. ��� We have paid that bill or the check is in the mail. ��� Get the check number, amount, and date mailed. If the check has been in the mail for more than 7 days, request that the customer stop payment and issue another check. ��� Job not satisfactory or incomplete. ��� In most cases this would involve the original installation crew, whether in-house or subcontractors. With management approval, the original crew must be re-scheduled to make the appropriate corrections at a time convenient to the customer. Remember, your company reputation is also at stake here. It is highly recommended that the customer be present to inspect the job upon completion of the repairs and to approve the corrections and make immediate payment. If collections after the repair are not possible, the collections procedure should begin from the start, just as any other job. If the job was subcontracted, payment should be withheld from the subcontractor until the problem is resolved to the satisfaction of the company and the customer. Ultimately, assumptions and procrastination are an accounts receivable collectors worst enemy. I have consulted with fencing companies that if the residential job is completed but has not been paid, they simply wait for the Pre-Formed Faux Rock Pillars Increase Pro ts! Fra ���If you can���t tell the difference, what difference does it make!��� make!������ ction Cost of Sof the tone! Starting at $94.50 call for details No mason required Maintenance free No sub-contractors UV fade resistant Tri Custom Manufacturing www.tricm.com Phone 435-563-0261 Toll Free 1-866-833-9589 Same day installation Impact resistant / durable One person installation Can be shipped by UPS! customer to take the initiative to send in the check, never contacting them to see if there is a problem or complaint. This is a very bad idea. If you don���t ask them for the money, many customers will simply never voluntarily pay. Take the initiative, don���t wait. As soon as possible, get on the phone and start calling your delinquent customers. Regardless of the excuses given, the purpose of the contact with the customer is to get a commitment for payment and collect money that is due while at the same time keeping the customer happy and satisfied. As you follow the delinquent account through the collection process, it is essential that you maintain a documented history of the dates, times and people you speak to, the steps taken and commitments made, and other pertinent data. A/R collections must be done in a persistent and timely manner. Create an A/R collections form for yourself as a tool to keep track of these accounts, or check my web site for information on obtaining one from me. It will serve as a key document should you have to go to court to collect. These forms should be kept in a separate file that is accessible by all involved personnel. This will ensure that each person knows what promises have been made. I strongly suggest you maintain a tickler file (1-31 file) or computer calendar equivalent to follow up on your collections calls and to be sure a callback date is not missed. I personally prefer the hard copy, a 1-31 file (an accordion folder with 31 slots, 1 to 31 representing all the days in a month) method as opposed to the electronic; it seems that the more tangible method works best. Whichever system you use, use it. Follow up as promised. Be persistent so the customer knows you are not going away, and you will eventually get paid. Call on the follow-up date. Identify yourself and say, ���On (date) you promised me that you would pay (amount) by (promised date). We have not received the check.��� Pause and wait for a reply. If they have not mailed the check, determine why. Get another promise and inform the person that you will call that day to get the check number or even better, you will stop by and pick it up, as applicable. Always remember, debtors are people just like you. Treat them courteously and with respect while collecting money that is due. You will always have the 1% or 2% of your customers that, no matter continued on page 26