article thumbnail

How to Write Effective Past Due Invoice Emails: Templates and Best Practices

Gaviti

In certain cases, youll also need to follow up with a past due invoice email. Why Past Due Invoice Emails Are Essential Financial issues, administrative error, and miscommunication of payment terms are the most common reasons businesses fail to pay invoices on time. Manage customer risk.

article thumbnail

Effective Communication Strategies for Collecting Past Due Accounts

Your Virtual Credit Manager

On a phone call, you should provide a summary of the amount past due, such as “$10,000 over 30 days past due” or reference one or two large past due invoices (number, amount, and due date), but no more. The key issue is securing a commitment to pay the past due invoices.

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

Readers of Your Virtual Credit Manager now have access to sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Buy Credit Reports But, On the Other Hand. it just might help them pay you sooner! Risk of losing or demotivating some productive salespeople.

article thumbnail

Avoid these Six Collection Myths

Your Virtual Credit Manager

Collectors spend most of their time asking for payments While it is true collectors are constantly requesting payment of past due balances, once that request is made they end up spending most of their time resolving disputes and invoice discrepancies. Learn More About Credit Reports 5.

Collector 189
article thumbnail

Position Your AR to Enhance Working Capital

Your Virtual Credit Manager

Your Virtual Credit Manager is a reader-supported publication. Do you need help assessing your customers’ credit risks? The experts at Your Virtual Credit Manager have default risk probabilities and other financial benchmarks for analyzing your AR portfolio and revealing actionable insights.

article thumbnail

Late Payments: Reasons and Remedies

Your Virtual Credit Manager

Readers of Your Virtual Credit Manager now have access to sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Buy Credit Reports 8. Technical issues: Computer system failures or internet disruptions, can cause delays in processing invoices and making payments.

article thumbnail

Mitigating Commercial Credit Fraud

Your Virtual Credit Manager

When a fraud isn’t quickly detected, legal action to recover past due invoices can impact unaware customers. In the movie “9 to 5” the general manager is having product shipped to a warehouse he controls in order to sell the goods on the side—an all to common scenario.