C2C Resources Comments on Getting Paid on Past Due Invoices during the Holiday Season

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Cash flow for most retail businesses is highest during the holidays. Business suppliers can encourage payment on past due invoices during this peak period.

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Make your business a priority so that you are paid first.

C2C Resources, a business debt collection agency headquartered in Atlanta, released a comment today in anticipation of the upcoming holiday season. The company believes suppliers need to create debt collection plans for collecting existing past due invoices from retail businesses. Retail businesses traditionally have the strongest cash flow during the holiday season.

Most retail businesses are currently investing resources into promoting the holiday gift-giving season: Black Friday, Cyber Monday, Chanukah and Christmas. According to Todd Tinkler, President of C2C Resources, increased funding toward marketing campaigns and stock inventory can result in a struggling cash flow for the business from now until mid-November. To retain the most money possible, retail businesses will typically work to secure longer payment terms or opt to not pay invoices until their cash flow increases.

“It is a common tactic for retailers to push off their payments until after January 1,” said Tinkler. “As an in-house collector, you must remember you are not the only business waiting for payment during the months of November and December. Make your business a priority so that you are paid first.”

Tinkler suggests making it a goal to receive payment before the end of the year as part of the collection call process for the debt. During the collection call with the delinquent payer, encourage scheduling payment for the debt from November 15 – December 15; this is when most holiday shopping occurs, leading to increased cash flow for the business.

Checking with the internal sales team is often a successful tactic, should the customer insist that the holiday season does not have a strong outlook. Sales associates who visit the customer can provide insight on stock levels and current order quantities.

“You should never bully your client in order to receive payment, but if you let your customer take advantage of you, you could never receive payment, or be the last one on their list of delinquent invoices to receive payment,” explained Tinkler.

For more discussion on the topic, visit the recently released C2C Resources blog: 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 25,000 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.

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Trey Cefalu
C2C Resources
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