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How To Manage Your Credit Control

By automating some of your credit control activities you can get a better handle on those late invoice payers, which as you may have seen in our previous blog post, is affecting 51 per cent of small business. 

By making it as easy as possible for your customers to remember to pay you and to actually pay their invoice, you can enhance the customer experience and boost your chances of receiving your payments on time. 

We came up with four top tips that will help you manage those late invoice payers more efficiently. 

  1. Make The Most Of Automated Communications

    This is a particularly useful facility for larger businesses as it saves your credit controllers from having to manually contact your late paying customers. When you use OPS you can schedule in as many SMS, email or letter reminders as you want your customers to receive on a pre-determined date and time; these can all be personalised for each customer.  By doing this you are ensuring that your customers are aware that they need to pay their invoice and increase the chances of receiving their payment.

  2. Set Up Recurring And Instalment Payments

    Some people are more forgetful than others when it comes to payments, so it's always a good idea to offer a recurring or instalment payment option for those who would like the convenience of an automated payment.  This payment feature allows your team to set up scheduled payments for an agreed date and time with your customers, and works very well with OPS automated communications.

  3. Effective Query Handling Processes 

    By using a singular query system you can effectively handle the entire flow of your customer's invoice queries.  OPS provides an easy to use interface that minimises customer disputes by allowing you to quickly resolve any queries. 

  4. Invest In Subscription Payments

    This system is ideal for the publishing industry, in fact any industry that allows its customers to pay for products and services via a subscription fee.  Everything is automated which means you can be safe in the knowledge that you will be paid on time

The OPS credit control features are just one of many ways OPS can help you to automate payment processes and customer communications, allowing you to improve your cash flow and the payment experience.