Follow-up is absolutely essential to collecting on past due accounts and keeping cash flow moving at every CMA Member company.
If you are missing out on an internal tickler system to remind you of follow-ups or relying on software (like Outlook) built for calendaring that does not store your contact history – why not consider a sales focused system. In my opinion, Credit Managers are the best sales people at any organization. Your making the hardest sales everyday – selling customers on paying for products/services they have already received.
At CMA, we use a very simple, low cost (great for those with mini-budgets), multi user tool for customer relationship management – Highrise by 37signals.com. Highrise can be perfect for those missing an internal follow-up system who want to try one out at a very low cost (even free).
By adding tasks to your customers in Highrise you create a follow-up (call, email, phone) task list for yourself. Making notes on each contact builds your history on each customer so that excuses for non-payment cannot be used again, you’ll know exactly when you faxed the copy of the invoice or when they said the check was going to be printed.
Adding and completing tasks, making notes, and sending emails through Highrise results in a accurate picture of all the communication between your Credit Department and the customer.
You can try Highrise for 30 days FREE and a basic account is as low as $24 per month. If you take the time to check it out, please report back with your thoughts here by commenting on this post.