We need to reclaim the prompt payment culture and decrease the amount of consumers and businesses headed to collections.
Atlanta, GA (PRWEB) August 19, 2014
C2C Resources, a nationwide commercial collection agency, released five top tips to motivate commercial customers to pay invoices promptly and on-time. Although C2C Resources works exclusively with delinquent business customer accounts, the company believes that by offering incentives to customers who exercise regular prompt payment it will keep customers from delinquency and increase cash flow.
This summer, C2C Resources has received an influx of requests from companies needing debt collection assistance. While the company manages commercial debt rather than consumer debt, a recent study published by the Urban Institute titled “Delinquent Debt in America” (July 29, 2014) could explain why companies are more accepting of delinquent payments. According to the study, one in three American consumers has a report of debt in collections.
“With the economic situation in the United States, we have created a culture where bad debt and past due payments are more regular occurrences for everyday Americans,” said Todd Tinkler, President of C2C Resources. “While this is a consumer reported trend, these tendencies can easily translate into the business world; Consumers are running businesses and making financial decisions for them. We need to reclaim the prompt payment culture and decrease the amount of consumers and businesses headed to collections.”
To help motivate customers to always exercise prompt payment on invoices, C2C Resources released five tips:
1. List discount incentives on the invoice or in the contract.
2. Provide better credit terms to regular paying customers as an incentive.
3. Create a valued customer group and host exclusive events.
4. Get to know your customers by creating personal connections with them.
5. Send a gift to a regular prompt-paying customer as a thank you.
For the complete tip sheet with best practices for motivating customers, visit: http://www.c2cresourcesblog.com.
About C2C Resources:
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 20,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.
C2Cs powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection.