In the past, getting paid was a matter of doing the job right, submitting the invoice to a satisfied customer, and accepting the payment for your hard work. It was that easy.
In today’s fast-paced world, getting paid is anything but fast. You deliver the same top-notch work, but you’re stuck waiting for payment 90 days later. Sometimes, it’s even longer. In fact, up to 10% of open invoices go uncollected. Time after time, restoration companies tell us that getting paid is their biggest challenge.
A Delicate Matter
Why is this happening? Insurance companies and property management companies are taking longer and longer to pay. When they finally do, they often send it with the mortgage company’s name on it.
What is a disaster restoration contractor to do? Collections are a delicate matter, and maintaining a good relationship with your customers has real advantages. After all, you’re probably optimistic about receiving payment for the work that you’ve already done for them and hopeful that they’ll send more work your way in the future.
You don’t want to be too firm or aggressive, so you’re careful to be fair and understanding, even if a customer is falling behind on their payments. You take a case-by-case approach to collecting. However, that takes a lot of time and effort, and the resources are coming from your bottom line.
Polite, Professional Persistence
Making exceptions for every customer is inefficient, and it doesn’t guarantee that you’ll get paid. Instead, choose a path that will get the results that you want without sacrificing the goodwill that you’ve built. Teach your customers how you want to do business by being polite, professional, and persistent. Get results by creating a schedule of collections communications for all of your customers and sticking to it. With AR Workflow, it’s easy to do.
Tips for Getting Paid Faster Using AR Workflow
Good communication is essential for successful collections. That’s why AR Workflow is packed with tools to make your communication more effective.
1. Communicate Your Way with Workflows
Treating every collection effort like a unique process is a waste of time and valuable resources. Automating the process with AR Workflow’s customizable workflows puts you in control. You can create effective communication schedules that exist on your terms. Then, add customers to the desired workflow, and let AR Workflow take it from there.
2. Communicate Consistently
If you’re manually contacting every customer, it’s easy for someone to be overlooked. When you assign them to a workflow, customers automatically receive communications on the schedule that you create.
3. Communicate Clearly and Prioritize Convenience
AR Workflow lets you use email and SMS templates to stay in touch with customers. For the best results, be sure that these messages have all the relevant information, including a link to the customer’s payment portal. Being politely persistent about what you’re owed is important but making it convenient for them to pay can make all the difference.
AR Workflow is the hassle-free way for disaster restoration contractors to get paid. If you need any assistance or would like to set up a training session, just let us know.
For United States