|
By Robert Moskowitz
But you can speed up this process considerably by "printing" these invoices into a computer file instead of on paper. You can then load this file into the appropriate software for use with your computer's fax-modem.
The key to making good use of your fax-modem is to think of it as your remote printer. That is, you can print an invoice here, in your office, or you can print the invoice there, in your customer's office.
Clearly, printing an invoice in your customer's office is a good way to get his attention on short notice.
By dumping the overdue invoices from your accounting software into your fax modem software, and then printing the appropriate invoices in your customers' offices, you quickly and easily get your overdue invoices the attention you want them to have.
But just printing the invoices themselves does not give you a complete collections effort. You must also:
1) Encourage the customer to communicate with you. You can do this quite easily by sending with the faxed invoices a cover letter indicating your eagerness to resolve the overdue receivable. At least in the first letter, take a moderate tone. Avoid turning the collections effort too soon into a confrontation. The letter should give prominence to a Customer Service telephone number (toll-free is better) and the hours your customer can call.
To simplify and automate this flow of communications, you should develop (or buy) a series of at least four or five different collection letters, each building on what the earlier ones have said and each one more firm in your request for payment. The letters should also offer to work out a convenient repayment schedule to help ease the plight of those customers who are in short-term financial difficulties. Fax-modem these letters--in the right order, of course--at least monthly to customers along with the appropriate overdue invoices.
2) Maintain a regular schedule of communications, even if it is only one way most of the time. Because the fax-modem and its software is under computer control, you can automate this process so it takes almost none of your time or attention. If you can't do it more directly, here's a "quick and dirty" way to automate this collections process via computer and fax-modem:
|
