Is knowing how to collect payments efficiently a challenge for your company? Establishing a process to collect payments from customers is essential to reduce defaults, optimize cash flow and ensure a good relationship with your audience.
Many businesses do not know how to collect payments and end up making mistakes or suffering losses due to missed payments. It is common for customers to forget to pay. In this context, by establishing frequent contact with payment reminders , there is a lower chance of default.
In this content, you will learn the importance of this management and learn about the collection rule to increase efficiency. You will also discover the best collection methods available and how Asaas can be useful to automate the process.
Are you curious? Keep reading to find out more!
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How important is debt collection management in companies?
Without efficient management of the south africa whatsapp number data process , your business may suffer financial losses. This is because defaulting on payments can affect cash flow and interfere with the payment of fixed expenses, suppliers or employees.
You certainly don’t want to go through something like that, do you? Furthermore, with efficient collections management, it is possible to project revenue more clearly and even obtain credit more easily for your business.
If you are dealing with a high volume of non-payments and have difficulty collecting payments, establishing a collections management system is an urgent measure. Check out how implementing a collections management system can help.
How can the collection rule help reduce default?
The collection rule is nothing more than a lead magnet is a premium partner for pipedrive crm of actions carried out to charge the customer efficiently . By having an established process, you can monitor the payment flow more easily.
The collection rule is based on three steps:
- When the customer will be charged – before or after the due date (or both);
- How it will be charged – what approach will be taken;
- Where it will be charged – what means of contact will be used.
Those who use Asaas can automate all collection steps by sending payment reminders before and after the due date, ensuring preventive and reactive collection.
Application of preventive collection
When making a sale, the next step in the lack data process is issuing and sending the invoice to the customer .
Next, you need to schedule reminders to sent 5 days before the due date and on the day itself. This will reduce the chances of the customer forgetting to pay.
If payment is, sending confirmation of receipt is the last step in the collection process. However, if the customer does not make the payment, it is time to start reactive collection .