ARRMS (India) Private Limited, is a professionally managed, litigation focused, debt collection company with operations spread across length and breadth of India. For more details visit www.arrms.in
B2B Collection Best Practices
Undoubtedly, when compared to business-to-consumer (B2C) relations, business to business (B2B) relationships are much more complex and has two handled differently. The first and foremost important aspect to remember is that business relationship has to continue even after payments have been recovered. Let us discuss some of the healthy procedure for B2B collection process. Issuing a demand letter - This is the first and foremost communication that will let the debtor know that your business wants to collect a due amount. The letter will convey all the necessary details in regard to the amount owed, and give them the time to respond to pay in full or partially or make any alternative arrangements which will be discussed by both the parties accordingly. Contacting the Key personnel- This might be the second stage where you can contact the key person and remind him or her in regard to the due payment. By sending friendly reminders through email, fax, making calls or any other commu...
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