How to create more cash flow?
How to create more cash flow? Make sales representatives accountable for the customer’s payment behaviour
- Sales representatives could have a major role in the acceleration of customer’s payments, which will also boost the customer loyalty rates (NPS). Customers will feel treated with true personal attention (instead of facing a purely administrative and bureaucratic process)
- If a customer is not paying their invoices in time, it should be seen as a perfect ‘qualitative customer feedback opportunity’ to check the customer’s experiences with the delivered products or services.
- In case of complaints or issues, these could and should be addressed immediately or escalated to the responsible division or senior management
- If there are no complaints there will be a moral pressure by the customer to pay the invoice immediately
By using this way of working a dissatisfied customer could easier be transferred to a satisfied customer or even to a ‘brand ambassador’ most likely willing to pay future invoices in time.