What’s the credit play for …. “We never got the invoice”?

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 is….Valid Excuses or Red Flags – Part 2: “We Never Got the Invoice”

When a customer says, “We never got your invoice,” your goal moving forward is to never hear this again…and to do this….you need to avoid single points of failure. Said another way, if you always send your invoices to 3 different people, it’s impossible for all of them to say, “we never got your invoice”.

When you hear “we never got the invoice”, you need to ask ONE critical question….. just say…..”So this doesn’t happen again, who else is part of the approval process for our invoices so that I can copy them in the future?”

By doing this, you have removed the single point of failure situation moving forward.

If you never want to hear this excuse in the first place, here is one of my Coach Corey, top 3 all-time credit plays, that has the single biggest impact on reducing DSO in any accounts receivable department…. and it’s called….”THE DAY 12 INVOICE CALL”….. here’s how it goes.

12 days after every invoice is sent out, call your customer and ask two short questions….. “Did you receive our invoice dated December 5th?” …..and then ask…. “When do you expect this invoice to be scheduled for payment?”

This quick call will eliminate 99% of all future late payment excuses! Making the day-12 invoice call sends your customer a subtle, but powerful message, that your company is not a company you want to play games with. Trust me, when it comes to deciding who to pay and who to put off, you will always be on the pay list!

In Part 3, we’ll pull back the curtain on the approval excuse….”We’re just waiting on approval.”

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!