COLLECTING PAST DUE ACCOUNTS: Getting Inside Help
By Jim Finucan


A frequent problem in commercial collections is the inability to
reach the decision maker. The president or CEO of a company often
insulates himself against such bothersome issues as unpaid invoices
through a layer of VPs and department heads. Trying to fight your
way through to the top guy in order to get your money can be the
height of frustration.

Sometimes you just can't climb all the way to the top and you have
to settle for dealing with a vice president or the accounts payable
manager. The goal here is to find someone who will take your side.
And, yes, it can be done. Work to build a relationship through your
calls, a relationship based on truth and respect. Ask direct
questions about how much authority this person has and use him or
her to help get you as near to the top-level decision makers as you
can. When you've made it as far up as you can go, pay attention to
the challenges this person is dealing with and then suggest a
solution that allows the two of you to work together to eliminate
the need for further collection procedures.

Hold your inside contact accountable for their promises and earn
their respect by being firm and professional, not personable and
friendly.  Don't be stalled or put off. Keep the conversation
focused on the bill that's owed and how important it is for everyone
involved that the bill be paid. Use words like integrity and honesty
a lot. You want your contact to go into meetings with the higher ups
seeking payment in full and ready and willing to report back to you
on the outcome.

What you're looking for is a champion. You want someone with some
backbone who can handle your direct questions – even stand up to you
a bit. That will be the basis of your working relationship. The
business world is really about relationships and if you can develop
an ability to establish them you will surely prosper.

(End)

Jim Finucan is a professional collections manager whose specialized
techniques can easily double the amount of past due bills your
business brings in. His book  – "Past Due – A Bill Collecting
Manual" – is a "must have" for any business dealing with past due
invoices.  More info: http://www.tiare.com/pastdue.htm