We have identified 8 types of delinquent customer personalities and customized conversation tactics for them to help you collect your money faster.
It is very crucial to identify your delinquent customers right away, but challenging at the same time. Their number of open accounts, total outstanding amount, poor credit score
and the reasons for late payment might give you a hint about the customer’s intentions.
Bank and trade references could be other indicators. For such customers it extremely important to take whatever means necessary to get them to pay. However, your actions should not damage your business relations if you still wish to do business with them in the future.
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.