Follow up activities for a collections process:
Did you download the free AP report on automation?
Delinquency: Our last post on this covered setting up critical follow up levels for a collections process.
Like I said, this is an activity that the client will do, what we as outsourcers / back office folks end up doing is the actual follow up activities:
- Follow up through email / snail mail
- Follow up through calls
At the pre-defined levels, we need to start the follow up activities needed to ensure collections. As listed above, the first set of activities comprise of a mail follow up followed by calling. We have experienced that over 70-80% delinquencies are not really deliberate and get resolved by these. Let us look at them individually.
Follow up through email / snail mail
This is resorted to in the initial stages of delinquency or even earlier. The moment a due date approaches, based on the follow up levels defined by your client, you may be expected to send a reminder email that the payment falls due on mm-dd-yyyy date. Quite often, this activity helps a customer of your client to immediately release the payment. Even with me, especially with utility bills like my mobile, quite often I forget to make a payment in the rush of work, and an email / SMS / call from the utility company, I release the payment through a web portal, or credit card to ensure there is no default.
To be continued…….
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