Accounts Receivable can seem simplistic at first. It has to do with the money coming into your business. It should be easy to keep on top of right?
We have found out that sometimes employees hired to do their jobs, didn’t really do their jobs. Yes, they sent out the invoices. However, when little things came up like the fax didn’t go through some of them just waited for the customer to try to make a purchase before confronting them on their bills. This leads to unhappy and frustrated customers and less business coming in.
How can you avoid such costly behaviors?
Monitor your accounts receivable person. Ask him/her what he/she is going to do if the fax doesn’t go through to the customer. Work together with this person to devise a plan on how you are going to reach out to the customers. Not only will working together with your employee help you with your clients, but you will also be building a healthier relationship with your employee.
Your accounts receivable will have lower numbers when you devise and implement a plan of action. This is a proactive approach and has helped businesses become multimillion dollar businesses. Take the time to teach your accounts receivable person the ropes and you’ll have less headaches and more business coming in.
If taking the time to train another person seems over whelming, then you could hire us. We are a dedicated team ready to take on this daunting task. We will partner with you and your businesses to streamline your recovery process and improve your cash flow. This approach will lead to a faster turn around and gives you more time to focus on building your business.
Regardless of what you do, take the time to do it right. Check out the person or business you are going to employ. Your accounts receivable is vital to your business. Without it your cash flow will dwindle down and it could cause you to close your business. So, be proactive with your business and get on the right track.