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- Tip 1:
Agree credit limits with customers at the start of the relationship
- Tip 2:
Use an accounting software to create invoices and receipts. Ensure it can generate aged-debtors reports, allocate credit limits and trigger reminders for due invoices
- Tip 3:
Make debt recovery a major accounting process in your business. Have a specific day of the week when debtors are called and a report is compiled
- Tip 4:
If you have a team of marketers who manage your customers, make them responsible for recovering debts, allocate some portion of their perfomace to it.