MARKETING AFRICA MAL 18/17 mal 18:17 online | Page 91
Houseman Lightpoles.pdf
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There are communication signs as
well such as; Persistent avoidance
of discussion or correspondence;
Telephones out of order; Replies to
calls we will call you without actually
calling; and Adverse press publicity.
As a credit management practitioner,
I have always ranked my collection
customers in these categories, this has
assisted me address swiftly issues of
delayed payment.
Whenever you call a defaulter they
will always give you an excuse why
they have not paid. If you classify
them, it becomes easier to address
some of the simple things holding
up your payment. Take for instance
a dispute over invoice amount, just
resolve the dispute by sending a
Credit Note or do a make-good and
have your payment done pronto.
Standardize your credit policies. Set
up clearly defined credit procedures
for all your customers. Be firm on
your deadlines and your follow-up
practices. Collect more information,
always monitor your customers, and
let the world know that you will
follow-up on late accounts, precisely
because it is your money.
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”Being predictable” is very
important in credit and receivables
management. All your customers
should know when they will be
getting a call or a letter from you if
they don’t pay you. Predictability will
lead to credibility. Credibility will
help you get paid earlier than you
otherwise would.
With the application of these reasons
there is no point why you shouldn’t
be ahead in the game of chasing
customers for payment and reduce
late payers by substantial margins.
Wasilwa Miriongi is a certified Credit
Professional currently working as the
Managing Director, Del Creder Credit
Management Limited. You can engage
him on this or related matters via
email at: [email protected].
FOR ALL YOUR
CONSTRUCTION NEEDS
Kipande Plaza • 0718 111333 • www.houseman.co.ke