Why you should be worried if a week has passed and nothing has happened

Credit Control and Credit Risk Management

Ask yourself at the end of the week what you have achieved and what incremental steps have been taken. If the answer is “not much” you do have cause to worry.

Why structures may not work

CEO’s tend to put in structures across the organization to try to increase the delivery of services to customers. This is intended to achieve uniform delivery in service standards.

Structures can work both ways depending on the employee mindset. It can be limiting and counterproductive to an employee who sees it as just a job scope. On the other hand if the employee is able to look past the work they do to want to actively participate in the growth and profits of the organization, they must want to do the best in what they do.

If you do not take active steps to increase employee awareness that they are functioning in a commercial organisation and the profits of the organisation matter, you will not be in a position to grow the business.

Employees in many organisations mechanically send out reminders to customers who have not paid and say,

“My job is Done”

If however the employee understands that the successful outcome of this act (by receiving payment) contributes to the success of the organization, the employee will go the extra mile to connect with the organization that owes the debt to see how this sum can be collected as soon as possible.

Do something every day

In receivable collections, you need to take incremental steps every day towards what you want to achieve if you are going to get there. We must get away from the 9-5 mentality and learn to start doing things in a more efficient manner.

At Credit Control Pte Ltd., we believe that the outcome of our actions matter to our customers and clients and that contributes to our effectiveness.

This article is written by Anu who specializes in collection of receivables for companies. If you have uncollected receivables you may contact Anu at: anu@creditcontroller.biz

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