As a business, it can be frustrating watching days, weeks, or even months pass by while you wait for reimbursement for your valuable time, products or services. Afterall, the saying “time is money” holds true when it comes to unpaid debts. According to figures from Inside Account Receivables Management, by the time receivables are 90 days overdue, they could be worth only 20% of their original value.
So, how do you create a sense of urgency for your debtors to take prompt action as opposed to remaining passive? Rather than expend unnecessary time, energy, and resources pursuing overdue invoices, allow us at Alexander, Miller & Associates to help capture the attention of your debtors by using the following powerful techniques: