Mailing costs are on the way up, so you may want to review the way you communicate with those perennial late payers.
One place to start: the collection letters your A/R department sends out.
A closer look at a standard collection letter may reveal a few areas where you can get more from a customer. For example: How many options to reach your company are listed?
To give customers as many opportunities as possible to reach you, make sure A/R includes the following on all collection letters:
1. a phone extension (along with the times a rep is most likely to be available)
2. an e-mail address, and
3. a way to text your firm — i.e., text Generic Co., Inc. to find out about our various payment options.
Key: When customers text message you, you don’t have to worry about those confusing text messaging laws.
Readers, what type of options does your company offer for customers to contact you? Let us know in the Comments section.