Summer break is almost over and students are preparing for the new school year. Your company is a hit right now, and fortunately, always is. But with these new purchases, the past ones might get lost within the sales. Technology isn’t something that people can usually afford right out of pocket, and that is why you offer payment plans. But these invoices are sometimes ignored or delayed, especially if your main customers are students. They might be short on money, or have other tasks that they believe deserve more attention than others. But your company needs a consistent income to stay open. Here’s what you can do to collect missed technology payments, as well as how to avoid them.
Send Polite Reminders
You don’t want to tarnish your reputation, nor the relationships you have with your customers. Therefore, stay true to your brand’s voice and image, and reach out to customers politely. You can send friendly email reminders when technology payments are coming up, or when one is late.
If you have enough staff, you can have some of them focus on calling debtors personally, and ask them to pay their overdue bills in a professional manner. We recommend training your employees before they tackle this job. Money is a sensitive issue, and there are proper ways of approaching this subject respectfully.
Clear Communication
When your salesmen are explaining a product to the customers, make sure they are clear about the price and payment deadlines. Sometimes, students have a lot on their mind, and they might not catch on to something if it isn’t emphasized. Since your company prioritizes quality, be clear about terms of payment and credit requirements. There is no need to hide or minimize the costs. Inform your customers about interest rates as well. It’s important to not leave out any details.
Create Tangible Agreements
Before handing the product over, have an agreement printed out and ready to be signed. This will hold your customers accountable to the terms of payment. You can use this as evidence if you ever need to take legal action. Make sure that your customer understands the agreement, and that they are on board. This can greatly reduce any confusion in the future.
Hire a Collection Agency
The most efficient solution is to outsource to a debt collection agency. These agencies are made up of professionally trained agents that are experts in all the rules and regulations in debt collections. This ensures that no rights are violated during the collection process. Agents are also trained to treat all clients in a respectful manner, so you don’t need to worry about your reputation being tarnished. A debt collection agency can collect your unpaid bills in a timely manner, and you don’t need to invest your own time and resources.
Contact Southwest Recovery Services Today
Let Southwest Recovery Services take this weight off your shoulders. No matter how great your communication is or how clear your agreements are, there will always be financial hardships that some of your customers will face. Keeping track of all the technology payments and debt is a tedious process, and you might not have the time to handle this heavy workload.
Trust is key. In order for customers to trust your technology solutions, they need to trust your brand. Afterall, they are making a huge investment. That’s why our team upholds your reputation and treats your clients with respect. We will remain true to your brand, while collecting the money you rightfully deserve. Give us a call today to get started.
