Creditprousa's Blog

April 27, 2010

MAINTAINING A STRONG BUSINESS RELATIONSHIP WHILE HELPING TO MINIMIZE DSO

One of the most important things to remember in establishing and maintaining a strong credit policy is by maintaining a good working relationship with new and existing customers through constant communication.  This practice begins with a company’s sales department and is re-enforced by the company’s credit department and finally by the company’s owners.

It is of the utmost importance that new customers are contacted shortly after placing their first order to determine if there were any difficulties with order placement or product receipt, and that the order/receipt process went as they had expected.  Once it is determined that all went well with the customer and they were satisfied with the product or service, the call can be closed with a reminder of payment terms.

The close of the call could go something like this “…I am pleased that we were able to satisfy your business needs Mr. Johnson.  As a reminder, our payment terms are ——- and we look to receive your check for the balance by (insert date), Thank you very much for allowing (insert company name) to be of service to you.

This telephone call accomplished several things:

1.)    Did the customer receive his merchandise or service?

2.)    Was the merchandise or service satisfactory?

3.)    Was the merchandise or service received in a timely fashion?

4.)    Did the customer have any questions?

5.)    Eliminated disputes or deductions based upon faulty product or faulty service.

6.)    Re-established payment terms.

Diligence and follow-up are essential in maintaining strong relationships and minimizing DSO.  The experienced staff CreditPro Financial Services, LLC, will be pleased to provide this service for you or train your in-house personnel to minimize risk and maximize return. Please call 216.402.9988, or visit us on our website, www.creditprousa.com for more information.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: