Unpaid bills bad habits.

Unpaid bills bad habits die hard. The media, social networks and discussion forums on economic issues constantly evoke the next global economic crisis that they say is on the horizon. One of the consequences of this crisis in the making will be a resurgence of unpaid bills. For the professionals of the client risk, for the credit-managers and the professionals of the recovery of the unpaid bills all the indicators are with the red. The first fruits of the crisis are seen by an upsurge of late payments in all areas of activity. Wherever the payment initiative is left to the customer (payment by check, transfer, draft) late payments and unpaid bills accumulate. The regulations are obtained only by a tedious and time-consuming work to make the reminders. This work is all the more difficult because the favourable economic situation of recent years has led to a massive return of bad habits in preventing unpaid bills. And yet 4 simple rules and easy to implement will significantly reduce unpaid bills they concern:

The client data’s

Billing

Disputes

“Time is money”

The client data’s managed by the sales team must contain the following elements:

The exact business name of the client and not his brand

The manager’s mobile phone

The email address of the person in charge of the regulations

The exact bank details (Bank Statement + IBAN)

The registration number in the Trade Register.

Only a well-maintained client file will allow for error-free billing and will make it easier for reminders teams to work.

Disputes must be identified which requires having the name of the contact and a way to contact him.

And finally the adage Time is Money does not exist without reason. As a collection professional, we see cases arrive every day with the following mention “it has been months since he reacts to anything he has not even looked for the registered letter”. Avoiding unpaid invoices requires acting quickly and if possible before other creditors.