Try incorporating these three simple steps in your business routine to reduce delinquent accounts:
- Use good contracts. It may not need saying but contracts are only useful if they are masterfully written. Contract attorneys make their living thinking up possible pitfalls of a relationship and creating solutions that will stick in court. Using updated, professional contracts can reduce delinquent accounts and help to prevent ever needing to use them.
- Make deals with the deal makers. No matter how well you work with a customer, if that individual doesn’t have the proper authority, you are inviting an excuse, and possibly even a legal defense, to non-payment. Before you get any contract signed, provide any service or ship any product, make certain you are dealing with the deal makers. This can be as easy as, “before we complete this transaction, can we cc your CEO/CFO on this final decision.”
- Address complaints. No business likes unhappy customers, but they are inevitably found in every business and every sector of every industry. To reduce delinquent accounts, create a process for handling complaints that is utilized by every employee. Recognize complaints quickly, provide options and solutions, and offer apologies when necessary. All serious complaints need to be known by, if not addressed by, business owners or corporate officers. What matters most is how complaints are handled.
If you have delinquent accounts that need collection, contact Frisella Law Firm today.
