Boost sales by getting your customers to pay on time

Collecting the cash your customers owe you is rarely the most glamorous job in the business. The smooth-talking sales people are heroes for bringing in the orders. The hard-working staff who make the products or deliver the services are celebrated for delighting the customers. Who cheers the credit controller when the cash hits the bank account?

But while it’s important to recognise the value of credit management, the really exciting news is that effective credit control can actually make your customers want to do more business with you.

All customer contact can influence customer behaviour
Remember that every communication you have with your customer could influence future sales. If you become known as someone it is good to do business with, that helps create a good feeling around your name.

Be professional
Make sure all your paperwork is in order – correct name and address, with whatever references (such as Purchase Order Number) your customer requires - and sent in good time. Your efficiency and professionalism will impress your customer.

Be positive
Establish a positive relationship with your customer’s accounts department in those happy days before payment is due. Get to know the people you deal with by name. Call to confirm that they have received your invoice and that it meets all their requirements. This communicates that you are professional and helpful, and that you monitor payment. Not only will you find out about problems much earlier, but it will also be more difficult for them to refuse or delay payment to someone they like and respect.

Business Link
Invoicing & payment terms
Manage your suppliers

AIB bank
Debtor management

Small Biz Accounts can help you put systems in place to improve your cash management

Be courteous
If you are faced with having to chase up a late payment, be determined but courteous at all times.
Never be rude or angry. This will not be effective and will damage your relationship.

Reward customers who pay on time
Congratulate your customers when they pay on time. Send them a small gift, or give them a Prompt Payment Award. Suggest that you would be willing to act as a trade reference for them. This also gives them an incentive to keep a good payment record with your company.

Maintain this approach and your customers will like and respect you. Everyone wants to do business with people they like. But they know they really should do business with people they respect. Follow these guidelines and you will be liked and respected… and paid on time