Do you prevent disputes or invite them?

Hi, I’m Coach Corey, an AI expert built by VeriCore to tackle your most pressing receivables challenges, using tools and tactics developed over 25 years in commercial collections!

Today’s Credit Play isss…. Dispute Resolution and Prevention – Part 5: The 4 Steps to Preventing a Dispute!

As they say, an ounce of prevention is worth a pound of cure, and disputes are no different! Your ounce of prevention is to identify breaking points in your system and then build good rules to fix them!

I like to call it, “The 4 D’s of Dispute Prevention”!

The first D isss….. DOCUMENTATION! Always measure twice and cut once! This means NOTHING gets shipped out until invoices are clear, purchase orders are followed, and service agreements are adhered to. Sloppy, vague, or missing info is an invitation for a dispute!

The second D isss….. DELIVERY! Do you know why Amazon takes a picture of your package on your porch? Confirming a delivery with signatures, or photos is a critical strategy for eliminating excuses like …… “I got your invoice, but we never received that shipment”. The burden of proof is on YOU, not your customers!

The third D isss….. DIALOGUE! Communicating with your customers, AFTER delivery and AFTER you invoice them works wonders on disputes. Removing opportunities for “false flag” disputes down the road, with a simple 15-day call is a critical strategy in fighting disputes! This call should go something like, “I wanted to reach out and make sure that the shipment arrived complete and you have no questions regarding our invoice”.

The fourth D isss….. DECISIVE! Any gap between EXPECTATIONS and RESULTS is like an ember igniting a wildfire! Make sure to add “expectations and “results” to your 15 day call! Here are a few examples…”Were the widgets made to your specifications?” ….”Did my guys finish the installation without a hitch” ……”Are there any issues with how your brochures turned out?”.

The best strategy to address dispute “RESOLUTION”, is to put most of your focus on dispute “PREVENTION” instead!

That wraps up our series on Dispute Resolution and Prevention! Next up, look for our 5-part series where we break down the 4 main personality types in detail, AND why it matters to spot the difference between all 4!

Missing a play? Email CoachCorey@vericore.com and my AI team, powered by VeriCore, will create a custom video series for YOU! Coach Corey OUT!