Create an ARM Collection Plan That Keeps Your Business On Track
Don’t let debtors get you down or slow your productivity. Instead, focus on creating a plan that keeps you on top of debt collection and shortens the time a customer is in arrears. To collect a debt without ruining the relationship, follow the helpful tips below. Create a plan A failure to plan is a plan to fail, and only twenty percent of all credit departments have a formalized plan that details the defined goals of their department. Your plan should include role delineation and responsibility assignments, as well as a clear dispute resolution procedure. Use great software Great accounts receivable collections software will make collecting the debt you’re owed much simpler. By managing your entire debt collection processes, ARM software will make you more efficient and effective, and allow you to accept payment quickly online and via mobile. You’ll also be able to perform credit and risk scoring. Online payment options Allowing debtors to pay online will not only speed up th