We are just barely into the year 2016 and already I am hearing excuses as to why the credit manager cannot attend the industry credit group meetings to which they belong. They range from the receptionist is out to my controller wants me to stay and call customers.
Attending credit meetings provide your best Return on Investment by reducing bad debt loss, identifying slow paying accounts, and lowering your financial dependence on credit reports I contend that blindly calling a number in your system is more time consuming and less efficient.
Calling for dollars requires preparation
- Are you calling a specific person or a/p?
- Who is the person who controls the checkbook?
- Is there a gatekeeper blocking you?
- Have you previously left voicemails?
- Who does that person report to?
- How often do they cut checks?
- Are there orders in house or on hold?
A good group can identify numbers 1, 2 and 5 & 6. And supply a direct extension to avoid # 3. Number 4 tells you how important you are to them and you know #7.
I say it every month. Group Meetings are not social events for the credit manager, they are an attempt to maximize your company’s revenue. If you bring the names of past-due accounts that you will be calling for money to a meeting, I guarantee you that the information you receive will increase your percentage of recovery significantly.
You are now ready to call for dollars. You have all the facts you need and this should be resolved in one call. Feel free to contact me at email@example.com if you’re not in a group and I’ll help you identify one that might be a good fit for you.