The tools of technology never cease to amaze me. I recently was alerted to Marauder Corporation’s Bill Collector in a Box software.
If clients are past due, I mean like REALLY past due and not paying their bills, Bill Collector in a Box could help straighten things out.
Your traditional accounting program is a great tool for paying customers. But when customers don’t pay you probably need something else and Bill Collector in a Box provides four key tools.
Automatic printing of professional, legal debt-collection letters that comply with state and federal laws. The software automatically schedules follow-up letters and provides reminders of the next steps to be taken with each debtor.
Credit bureau reporting. Reporting a bad debt to a credit bureau is an effective way to convince debtors that they need to quickly settle their invoices. With one click, Bill Collector In A Box reports a bad debt to the major credit bureaus.
Skip Tracing. If a debtor has left town with no forwarding address, Bill Collector In A Box lets a business owner engage a professional investigator who will track down the debtor. 25 basic skip traces and 1 advanced skip trace are included with the software.
Processing of credit card and ACH transactions to enable fast settlement of invoices.
If you’re tired of dealing with dead beats check out your customers BEFORE they become past due customers.
By obtaining the proper information upfrontóbefore any credit terms are agreed toóbusiness owners can avoid unnecessary effort and expense later, especially if the customer is unwilling to pay or is trying to avoid attempts to be contacted, says Ryon Gambill, a collections professional and CEO of Marauder Corp., the company that designedBill Collector In A Box to help entrepreneurs and business owners collect past-due invoices.
To reduce the need for collections measures, Gambill advises entrepreneurs and business owners to implement the following policies into their invoicing and billing procedures:
Collect personal and business references, including name and telephone number and the reference’s relationship to the customer.
Do not accept post-office boxes or private mail boxes as ship-to or billing addresses; be certain that you have the actual street address of the business.
Obtain home, cell and work telephone numbers from your customer.
If it is a business account, ask if they use purchase orders. If they do, record the purchase order number on every invoice.
If you are extending credit to a business, get a personal guarantee from the owner.
When dealing with someone who is not an owner of the business, make certain that the person is authorized to conduct business on behalf of the company.
Ask for and verify bank and credit references before the first sale. If possible, and with the proper authorization, run a credit report. This will indicate how they have previously handled their financial obligations.
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