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While emails are often used, phone calls can be more effective, especially for high-riskaccounts. 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.
Share The High-RiskAccount: Ideally you do not want to extend credit to highriskaccounts. You will, however, extend credit to marginal accounts, and from time to time marginal accounts and even lower-risk customers will become highrisks. Collectors should as well.
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.
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.
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