If your company has been having a hard time obtaining payment on past due invoices, you may want to hire the debt collectors Australia businesses rely on. These professionals have a number of highly effective collection techniques that they can leverage to improve your bottom line. Best of all, when they work for you, they’ll always prioritise the maintenance of every customer relationship that you’ve labored to build.
One strategy that professional collectors routinely use is to alter the wording in invoices and account statements in a way that fosters a greater sense of urgency. With the right word choices, you can incite action that leads to rapid payments, and without making your clients feel uncomfortable about using your business again. Your collectors can also implement incentives that promote timely payments on a consistent basis. These can include late-fee avoidance or forgiveness, or simply the implementation or higher late payment penalties. Collection agencies can also assist your in-house accounting teams in learning and using proven collection strategies on their own, so that you’re not always reliant upon third-party help in this area.