1. TWENTY WAYS TO ACCELERATE DEBT COLLECTION STARTING TODAY
A Ten Minute Tips Series Program
Presented by Michael C. Dennis CCP, CPC, CBF, MBA
© Michael C. Dennis. All Rights Reserved

2. DEBT COLLECTION TIPS
Find the right balance between the quantity and the quality of your collection calls
Use personalized dunning notices
Make sure that your invoices clearly state the due date as well as the discount due date
Make sure that your company does not process POs with incorrect price or incorrect payment terms
Eliminate grace periods before making calls to delinquent customers

3. COLLECTION TIPS, CONTINUED
Call, don’t write to delinquent customers
Hold orders if necessary as leverage
If you can’t get the debtor to commit, consider involving salespeople to bring additional pressure to bear
Charge back unearned cash discounts to discourage abuse of your discount terms
Carefully document customers’ payment commitments
Always send a confirming when you receive a payment promise

4. COLLECTION TIPS, CONTINUED
Always ask your customers for, and always expect to receive payment in full for the entire past due balance
Prioritize the calls you make in descending dollar values
Measure your collection performance
Establish collections related targets / goals
Leave fewer voice mail messages
Leave better voice mail messages 4

5. THANK YOU FOR YOUR TIME TODAY
If you’re interesting in hearing this one-hour entire presentation, please contact Dianna Rowinski at:
(262)
My most recent books: “Customer Profit Hacking” and “Happy Customers, Faster Cash” are available on
© Michael C. Dennis. All Rights Reserved