Getting paid on time? A matter of communication

If you are doing business on open account terms, you basically have to deal with two major risks.

  1. Credit Risk, which relates to the capacity of your customer to pay you
  2. Late Payment risk, which - apart from credit risk and correct performance  - strongly relates to how effective you communicate with your customers. 

Happy Customers Faster Cash is above all a practical book about effective and customer oriented communication about issues such as overdue invoices, late payment, handling complaints and other related topics. The book is written for credit managers and credit departments. It is also for business owners who do business on credit but lack the time or subject matter skills to ensure they get paid on time while maintaining positive working relationships with their customers. For the seasoned credit manager, this book serves as a comprehensive refresher.

As a basic rule and especially in B2B, the relationship between the customer and the supplier is based on trust and performance on both sides. It often takes a lot of time and resources to build productive and profitable relationships, which is precisely the reason why it is so vital to maintain good working relationships with customers. We all know how important it is that customers pay us on time. Not being paid on time affects the financing of our operations and our ability to meet our financial obligations such as paying suppliers, employees and of course taxes. Effective, and customer oriented communication is essential. Naturally, we want to get paid on time, but we don’t want to damage relationships with customers in the process. Happy Customers Faster Cash shows you how to achieve both objectives easily and effectively.

If you want to learn more about credit management, business communication and business culture in Eastern Europe, the USA, India and financial CRM in general, this book could be an excellent start. Happy Customers Faster Cash can also be customized to create a corporate version.

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