Topic 6 · Part 4 of 5 · Dispute Resolution and Prevention
Seven Details Every Valid Dispute Must Include
The seven details every valid dispute must include before you investigate, from exact amounts to who owns the response.
Prefer to watch? Skip to the video version ↓
7 ways to avoid disputes!
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 4: Seven Details that Matter!
Dealing with disputes can be a HUGE drain on company resources! That’s why you need to always gather seven important details before you entertain ANY dispute.
Details #1 isss….. EXACT AMOUNTS ONLY. Don’t accept, “your numbers are off”….. instead, they need to say, “Line item 7 should be .43 cents a unit, not .45 cents a unit”.
Detail #2 isss ….. INVOICE NUMBERS ONLY. If your customer can’t tell you exactly which invoices have problems, they don’t have a REAL dispute.
Detail #3 isss….. IS IT CLEAR? If it’s vague like “This invoice seems high” it doesn’t count. Only accept specifics like, “We were charged for 100 units but only received 85.”
Detail #4 isss….. NO PERCEPTIONS No proof means no investigation! Don’t accept comments like, “My understanding was that shipping for this invoice was supposed to be free”
Detail #5 isss….. CONTACT INFO REQUIRED Vague comments like “accounting is looking into it” or “My CFO says its wrong” are non-starters because you can’t challenge a ghost! Specific names, email addresses and phone extensions are required for anyone involved in the dispute.
Detail #6 isss…. ARE THERE HOSTAGES? The final detail you need to gather from the customer is to clarify how much of the balance is disputed… AND… more importantly, are they trying to hold the undisputed portion hostage?
Detail #7 isss….. WHO’S GONNA OWN IT? Assigning ONE person internally to be responsible for coordinating the research AND the response…is a critical strategy to move disputes down the tracks towards a resolution.
If you don’t quickly gather the right details….AND… if no one assumes responsibility for pushing the dispute forward, they will grind to a stop and start to grow like weeds in a garden!
In Part 5, we’ll cover the FOUR preventive steps that stop disputes from happening in the first place!
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!