Remove Collector Remove High-Risk Accounts Remove Transactions
article thumbnail

A Focus on Collections & Credit Fraud

Your Virtual Credit Manager

While emails are often used, phone calls can be more effective, especially for high-risk accounts. To address these challenges, collectors should adopt a strategic, diplomatic approach to push your company to the front of your customers’ payment schedules. via direct external communication with the customer.

Collector 130
article thumbnail

Business Customer Personas: A Collectors Guide

Your Virtual Credit Manager

Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. You will, however, extend credit to marginal accounts, and from time to time marginal accounts and even lower-risk customers will become high risks. Collectors should as well.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sales Commissions Impact the Collection Process

Your Virtual Credit Manager

Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. It is important to keep in mind that trade credit — selling on terms in a B2B environment — is greatly affected by the transactional process.

article thumbnail

Trade Credit Insurance for Businesses: Definition, Benefits & How It Works

TreviPay

Without trade credit insurance, businesses face a higher risk of financial loss due to non-payment from customers, which can lead to the use of debit collector services to recover outstanding debts. Customer service is another critical factor to consider.