Be prepared for delinquent customers and implement best practices into your internal collections policies and procedures.
For many companies, the most challenging part of operating a successful business is ensuring you're getting paid for your efforts. While businesses focus on providing quality services or products to their customers, some customers will inevitably fail to pay debts timely and accrue delinquent balances. The unfortunate reality is that all businesses, at some point, will find themselves needing to deal with delinquent customers. This topic will help you implement a few best practices into your internal collections policies and procedures to be prepared in advance for those delinquent customers. In addition to internal collection procedures, this material will also discuss when it may be appropriate to bring in a third party to enforce collections and the best way to be prepared for legal proceedings.
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