Topic 6 · Part 2 of 5 · Dispute Resolution and Prevention
How to Set Deadlines on Customer Disputes
How to set a deadline that fits the dispute, 48 hours, 5 days, or 15, and communicate it so disputes can’t drag on.
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Do disputes drag on way too long?
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 2: Start the Clock – Document It or Dismiss It!
Dealing with REAL disputes, without establishing deadlines, is a surefire way to waste valuable time and resources. Once you identify a REAL dispute, set a deadline based on the complexity of the issue… and then… START THE TIMER!
SIMPLE disputes, like pricing errors or math mistakes…. should get the timer set for 48 hours! Anyone can prove whether the math is right…OR…wrong in 2 days!
MODERATE disputes, like damaged goods or delivery issues…..should get the timer set for 5 business days! Letting disputes like these, stall for weeks or even MONTHS, creates complacent customers, AND stalls cash flow! 5 days is plenty of time to check receiving logs….take photos….AND get shipping receipts!
COMPLEX disputes, like differences in contract language, or extensive quality issues, will admittedly take more time … so for these….be a bit more patient and set the timer for 15 business days! Buuuut….my Coach Corey Caveat is to always be mindful that complex disputes usually involve LARGE DOLLAR invoices, so not setting a FIRM deadline, will negatively affect cash flow!
The key to setting deadlines is to always communicate them UPFRONT! Something like, “I understand your concerns, but, if I don’t receive your support documentation by Friday, the 11th, I will in turn, expect full payment the following week.”
Lastly, always communicate the PASSING of a deadline! Something like, “Since we didn’t receive your documentation by the deadline, I will now need to escalate this matter”
Setting deadlines AND communicating those deadlines upfront, will establish the credibility you need to move disputes forward…AND keep cash flowing!
In Part 3, we’ll cover a strategic tactic that TESTS whether disputes are real by requesting payment on the undisputed balance!
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!