“Hello? I’d Like to Pay My Account…”
Every business has those customers whose balances are
consistently under $1,000.00 per month.
When reviewing your accounts receivable, these customers don’t really
register on the radar because you likely have bigger balances to keep your eye
one. If your business is highly
transactional (many unique customers with small balances); then these $1,000.00
balances begin to amount to a lot of money.
So How Do You Manage These Customers For
Maximum Profit?
Priority Credit Recovery (PCR) concluded a successful
campaign for an international paint manufacturer. The manufacturer has many retail and
commercial outlets across Canada and the U.S.A. where commercial painting
companies could purchase supplies on an open account. Over the course of time, several thousand
customers with smaller balances began to make a dent in the manufacturers’ cash
flow. This company needed a way to contact
the customer requesting payment, yet preserve the customer relationship without
hiring an army of receivable staff.
After careful review of the manufacturers’ requirements, PCR
designed a custom contact campaign designed to get the commercial customers to
call the manufacturer and speak with their receivable team. The campaigns were unique to each office
across the country, taking into consideration time zones, and optimal calling
times.
56% of All Small Balance Accounts Paid
Within 10 Days!
The custom campaigns resulted in 56% of the customers
paying their accounts in full. And a majority
of them immediately placed another order.
Disputes were solved and miscommunication eliminated. The manufacturer was able to make contact
with thousands of customers without adding extra staff or paying fees to
temporary staffing companies. And most
importantly, the manufacturers customers had no idea PCR was involved.
If your company struggles with the management of low
margin past due customers – give us a call today for a confidential
consultation. PCR has many tools at our
disposal that can assist you without the fear of sending your customer to a
collection agency. Priority Credit
Recovery Inc. is a member of The PCR Group of Companies where our goal is to be
your #1 choice for credit services.
Cash flow is the lifeblood of your business. At PCR, We
Protect Your Corporate Heartbeat®
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