Collections is About Connections
It's almost Thanksgiving so we'd love to pay it forward and share some tips from our customers for getting paid on time. Spoiler: it's not really about collection, it's about connection.
Make it personal, AP & AR work in lockstep
Carla Buggs from Fastly knows bdays, kids' names, and hobbies for her AP counterparts at her customers. She tracks that in Tesorio and she's always at the top of the list each payment run.
Don't ask for money the first time you connect
Glen Olson & Michael Renner (ex Veeva Systems) and Jeremy Keenan & Will Young from Smartsheet all send their first email within a week of the invoice date. It's only for introducing themselves and verifying contact, PO, and invoice info. It's easier to build a strong relationship before someone is past due.
-Carlos R. Vega