How to Make Payment As Easy As Possible for Your Clients By Jon Lambert

A debit collection agency is a great way to get help settling unpaid invoices your business is owed. However there are a few steps you can take so that you give your clients the best chances of being able to make their payment on time. Here, we've listed a few ways in which you can not only encourage prompt payment, but also make it easier on your clients, which they'll appreciate:
Contact information - It can happen all too often that you send out an invoice, only to have it sent back return to sender as the contact details are incorrect. In order to overcome this, it's a good idea to get in to the habit of confirming contact details with your client every time a sale is made. This will remove any confusion, and ensure they receive the invoice and have the chance to make the payment by the due date.
Clear Communication - This seems like an obvious one, but can easily be something that's overlooked. Make sure that before the sale is processed the client knows the terms of trade so that when the due date of the payment comes around they know that they need to pay the amount in full. If the trading terms are clear from the get go, everyone will be happy and understand clearly what is expected.

Payment Options - Giving your clients a number of different payment options will help to assist them to make prompt payment. Some people prefer making payments using a specific method so opening up your options will allow the client to not only be able to make the payment the way they want, but they also won't be able to use it as an excuse for not paying on time because you don't have their preferred payment option available.
Payment Plan - Organising a payment plan may be a great way to ensure that clients are able to make payments, even if it is over a period of time. This may even encourage more sales as they are able to handle smaller repayments on an ongoing basis rather than one lump sum payment.
Of course, even if you do all of the above, you still need to be aware of who to trust.

Be cautious with who you provide credit to - It can be very easy to provide credit to someone who has bad credit if you haven't done the proper checks. Many companies that specialise in debt recovery services can screen customers before hand so you can see who has bad credit ratings and shouldn't be given credit. For a little bit of money up front you can save hundreds if not thousands in the long run by doing this.
By making it easier for your clients to make payment, you'll find that they will not only enjoy doing business with you even more, but having to chase up invoice after invoice will be a thing of the past. I hope our tips have outlined a few steps you can take to ensure your customers are given the best chances to make payment quickly and correctly.

By the way, do you want to learn more about Finance?
If so, I suggest you check Debt Collection Agency and Debt Recovery Services.

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