Have you ever had to manage a customer's overdue payment and been unsure how to handle the delicate situation to make sure you collect your late payment and still maintain a good relationship with your customers?
Even the best customers and businesses can become late payers. When this happens, it can put a strain on your organization, which can damage the entire business relationship.
To prevent overdue payments from turning into unpaid invoices, which can culminate in lengthy and expensive proceedings as well as the breaking down of relations, you should:
- Avoid making mistakes when requesting overdue payment
- Maintain open communication with customers
- Prepare for the worst-case scenario
- Use an intermediary for payment relationship management