3 secret formulae to predict if a customer will pay your dues
Updated: May 24, 2019
Sounds familiar? And what do you think, are the odds that payment will come soon or in a week? Very low, right? We all know that it is easy (and necessary) to give credit so as to get sales, but very difficult to collect the dues. And, it becomes a huge challenge to predict which customers will pay, and by when. So we at TimePay compiled 3 secret formulae that one could use to predict if and when a customer will pay.
Secret Formula 1 : Consult an astrologer
When you can consult an astrologer on whom to marry, where to live then why can’t you do the same to get some insight into the fate of your overdues? (customers have zodiac signs too!!) The astrologer will not only tell you when you’ll be able to collect the dues but may also suggest some remedies to speed up the collection process! Now isn’t that cool.
Secret Formula 2 : Flip a coin
Cricketers flip a coin to decide who gets to bat first. It is used in other sports like football and tennis as well. Collecting accounts receivable is also quite a competitive sport. So why not flip a coin whenever you want to know the fate of a certain overdue account? Heads - the customer pays you; Tails - you forget about the money!
Secret Formula 3 : TimePay
If you are already here reading this, you know very well, that the above two formulae are not quite secret, and perhaps not that effective. So, we should let you know the secret formula for predicting and enhancing collections. The formula is TimePay! Use TimePay to get a complete overview and keep track of your accounts receivable. With
TimePay is automated follow up system and
receivables management process, you can improve your collection cycle by more than 10 days! With TimePay you collect faster, save interest costs, and grow your business profitably just like the astrologer predicted you will!! To know how TimePay can help you increase and improve receivables collections, get in touch with our team here.