Pump Up the A/R – January 2103

PUMP UP THE AR

January 2013

Welcome to 2013 ( 2012 +1 for those suffering from Triskaidekaphobia) !

I know you’re probably all excited, if not a little nervous, to be starting the new year with a new computer and, for Chicago, a new set of customers…but although the entry and documentation may change, the practice of collecting overdue accounts remains the same. So, just in case the extended time off has left your collection tactics a little rusty, I offer you a short review:

• Start out with inquiry: first contact should take the tone of bringing awareness, ensuring no mistakes were made…give the debtor a chance to save face by paying once reminded.
• If an inquiry doesn’t work, initiate demand contact: without any hostility, take a strong position and demand payment…you’re no longer pretending they might just be confused.
• Determine at which point of delinquency the debtor will be unlikely to pay without collection activities…once you initiate collections, it’s unlikely the customer will continue to view you as an adersary…there’s a good chance you will not do further business with them unless this stage is handled carefully.
• Remember to keep your cool…do not lose your temper or get upset.
• Don’t feel guilty about collecting what you’re owed.
• Patience and understanding go a long way…listen.
• Understand the negotiation process, and focus on a win-win situation.
• Be patient…gather all your information & think carefully about possible solutions.
• Be confident…don’t mistake this for rude or cocky…confidence is not arrogance.
• Develop your listening skills…people will often tell you all that you need to know if you ask the right questions and keep quiet long enough.
• Collections are 95% psychology…use it wisely.
• Watch for signs of potential problems, including change in payment pattern, partial payments, order levels shrinking, loss of key staff members, large layoffs or hour reductions, and problems in key industries.
• Most importantly, remember that time is the greatest deteriorating factor on the collectability of an account…pay attention and act quickly.

 

 

Best of luck to all of you….

                                                                                                Dorothy

                                                                                    (Team formerly known as St. Louis)

PUMP UP THE ACCOUNTS RECEIVABLE – February 2012

We all know that collecting money isn’t always easy.  At Times, our job can be frustrating, irriritating, and downright maddening.  We’re in a position where, all too often, we’re lied to, avoided, and sidestepped.  Aside from cold calls and telemarketers, we’re frquently the least popular phone call a company can receive.  And some days, that’s enough to make you not want to pick up that phone at all.  But giving up is not an option and we need to collect the money owed to us, so what do we do?  We try to remember what an important part of the process we play, and we reinvent what can feel like an ordinary, frustrating job and turn it into a special position.  So, in the spirit of helping you to reinvent your job, I offer up a few tips:

• Notes, notes, notes.  Keep your records straight, take thorough notes and update the computer so that any person that speaks to the client knows exactly what’s transpired.
• Check your attitude.  Stay positive, enthusiastic, and never let them see you sweat.
• Tune into what’s going on around you: listen to the sales staff, keep your ears open to industry news and companies affected, and listen for hidden messages when talking to the client.
• Be inventive: try new strategies, new tactics, new approaches.
• Put the other person at ease: be pleasant, convey empathy… an abrasive approach will get you nowhere.
• Use team talk:  Use the words “we” and “together” as much as you can…IE: “we would really like to work together with you to clear up this matter.”
• Encourage interaction: avoid simply invoices and amounts, pressure clients into interaction by asking open questions.
• Use silence.  State your case and then shut up.  Silence is uncomfortable and the customer will likely quickly jump in to fill the space… it’s a great way to them talking.
• Clearly state your plan for follow-up.
• Keep your language positive and avoid criticism.
• Respond promptly to all questions and requests.
• Compliment progress: when a client is doing their best to clear their account, no matter how frustrated you may be with the slow progress, notice the “good.” and thank them for staying true to their word and making their payments.

Keep that money coming in and have a hppy February!!

St Louis.

PUMP UP THE ACCOUNTS RECEIVABLE – December 2012

December 2012

To: All Managers and A/R Team Members

Pump It Up!  Let’s get it paid!

Chanukah is early this year, so let’s celebrate!

Traditionally during Chanukah children and adults play with a four sided top called a dreidle….and a pile of gold chocolate coins called Chanukah Gelt.  Each side has a letter, and each letter has a different meaning for this game:

Nun or N – Stands for neis (a miracle).   If you land on Nun, you get Nothing! (Here’s the KBC version: if you land on Nun, make five phone calls to your A/R over 60 days.  Eat a chocolate when finished.)

Gimmel or G – Stands for gadol (big).  If you land on Gimmel, you get Everything! (Here’s the KBC version: if you land on Gimmel, call your client with the largest amount owing left on your call list.  Get it all.  If you get it all eat 2 chocolates.)

Hey or H – Stands for hiyah (here).  If you land on Hey, you get Half! (Here’s the KBC version: Call three clients who are not keeping their promises and are past due.  If you can’t get the whole amount today, get half, and then eat a chocolate.)

Shin or s – Stands for sham (there).  If you land on Shin, you Put one piece in! (Here’s the KBC version: if you land on Shin, make a call on your list, and then make another before spinning again.  Give one of your co-workers a chocolate.)

So, the four sides of the dreidle stand for: a big miracle happened there.

Well, we want a big miracle to happen in your office also.  We want you to all have 90-95% A/R under 60 days by the end of December.  So, spin your dreidle.  Have fun!  Laugh! Giggle! Finish your calls and your chocolate!

p.s. There are eight nights of Chanukah, so you can keep making your calls for many days!

End of year!

So, here we are again at the end of the year.  Time to clean up and time to look forward.

First, let’s cleanup!

1. Get those old amounts in.  We are going to a new computer system, and we would like to bring the good into the new and leave the rest.  So, get calling, e-mailing, faxing, mailing and bring the money in.

 

Mr. Bass always said that if they don’t return your call the first day, call twice the second day.  If they don’t call back the second day, start calling hourly.  It’s amazing how quickly someone will stop avoiding you when you become super persistent.  Don’t forget home phone numbers, cell numbers, texts, and multiple extensions within the company.  In large companies it sure doesn’t hurt to leave a few messages at alternate voicemails complaining that you haven’t been paid and cannot get in touch with ___________.

1. In 2013 we start having the following print on each invoice: Items listed on this invoice remain the property of KBC Tools, Inc. until paid in full.  KBC reserves the right to charge an administration fee of 2% per month (24% per year) on past due amounts.  So, you can advise your really past due accounts that we will start charging an administration fee of 24% per year on past due accounts.  (You don’t have to tell them that it is only on new invoices in 2013, but hey, it should stop them from thinking of us as a interest free loan facililty.)
2. The week of December 10^th, call all your accounts over 60 days and ask if they would like to pay off their accounts – yep, that is everything 30 days or over – today only with a credit card.  They get the points, this time only, and we get a clean account to take to our new system.
3. Monday, December 3^rd, run a trial balance and go through to do applies that make sense, write off Invoice Balances $5 and under, and write off all credits over 1 year old.  Also, write off all credits over 6 months under $5. (Please do not write off invoice balances or credits for accounts
   that are in collections.)

Now, time to look forward!

1. The new system is going to be great.
2. Work hard now.  Enjoy the holidays.
3. Get some rest.  Then get ready!  January 2^nd is the day!

 

Thank you for all your efforts in getting us ready to GO Live in P21!  Thank you for all your hard work in 2012 making sure that we take care of our clients and that they take care of our invoices!  We have a great company, a great team, and a great roster of the best clients in metalworking in North America.

Happy New Year!  Happy Holidays!

Be well, be happy, be safe,

Paula

PUMP UP THE ACCOUNTS RECEIVABLE – August 2012

Awesome August Achievements in A/R

Housecleaning

Put on your aprons.  Get out your mops and dusters.  It’s time to scrub the floors, desks, and our old accounts.  It’s time to clear out the cobwebs from the corners of our computer and our desks.  Put on those yellow rubber gloves for the truly grungy jobs…but get to it!

Have you sent in your uncollectables to the accountants?  Have you done your end of year write offs?  Have you written off your credits over one year? (except for accounts with old outstanding amounts.)  Have you written off your credits over 6 months under $2?  Have you written off your invoice balances under $1? Have you applied everything you can?   It’s time to clean up and clean out.  Our new computer system is on its way, and we need to be clean and ready to move.

So, after you’ve done everything you can to clean up your A/R….and then asked yourself if there is anything else you can do….One more phone call?  One more fax? Escalating the issue to the Big Boss? Something a bit more outrageous?  ….then it’s time to clean up your desk, your files, your walls.  We need to have a clean and efficient working space….and head space to start our new reality of P21.  This is the time.  Send me a picture of the before and after of your work area, drawers, files, etc. by August 30^th to paula@kbctools.com.  I might even come up with a prize or two for the most organized and attractive work space J

 

New Year’s Resolutions in August

So, we’ve had 7 full months to make good on our New Year’s Resolutions.  Pull them out of your drawers from that file in the back.  Blow the dust off, and let’s take another look at what YOU said YOU were working on in 2012.

You chose 10 accounts to grow by reviewing their credit limits.  So, what happened?  Did you increase their limits?  Did you let them know?  Did their accounts grow?  (If you haven’t done it yet, now is the time!)

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

How long is it taking for you to respond to e-mails from clients?

Does this meet or beat your goal?

Here are some creative solutions that you all came up with to keep clients buying.  Which ones have you used?(Put a checkmark in front of the ones you’ve use):

-For new customers: follow up call to thank them for their on time payment

-For new customers: welcome calls to the A/P department

-Get more e-mail addresses to keep in touch and send e-mail offers

-Look for repeat items customers order frequently – get the order, give a small discount for an increase in size of order

-Be polite and professional at all times

-Keep in touch

-Call their purchasing person as soon as they are off credit hold to let them know they can order again, if still on N30 account or credit card

-When calling ask about satisfaction level

-Review terms and limits with clients who are pushing the boundaries

-Others:

 

 

You looked for clients with big potential for business and growth while reviewing incoming credit applications and also trends in purchasing.  YOU chose 3 clients for growth in 2012 – how are they doing?  Can you name at least 3 others that show potential?  Share these with your branch manager and brain storm how to grow them.

1.

2.

3.

NEW ONES:

1.

2.

3.

Your own personal resolution – did you achieve it?  How are you doing?

P21 – The New Frontier

Here we go, boldly going where we have not gone before.  A new ERP system.A new level of automation.  A new level of ability to keep names, contact information, and notes than ever before.

If you have not been in PLAY, you need to go, and you need to go NOW!  The following practice needs to be done by August 15^th, 2012 at 5p.m. – Elaina and Jenny will be checking in the system to see that you have done these.

Enter:

10 check payments onto 10 accounts with A/R balances

10 credit card payments (process an order and pay by credit card at that time)

10 credit notes

Validate or don’t validate 2 orders

Issue a credit card refund onto the card

Issue a check refund and write off the credit

Apply 2 credit notes

Write off 2 small Invoice Balances

Put A/R  notes into 5 different accounts

Schedule a collection call

Put A/R contact, address, phone number, extension, and e-mail into 3 accounts

Print 1 invoice

Fax 1 invoice

E-mail 1 invoice

Print a statement

Balance your posted payments to deposit slip at end of day

 

What other things/processes do we need to try out, do, practice before GO LIVE?

 

 

What questions/concerns do you have about A/R in the new system that we need to get you answers?

 

Okay now, breathe, exhale, breathe, exhale….go into PLAY, breathe, exhale, breathe, exhale, …..go into PLAY….repeat.

Have a great month,p

p.s. THANK YOU!

Increasing the Order

Karen in Mississauga and Alana in Delta have a friendly

competition between branches to be the top branch for sales $/order, so

both branches are trying like crazy to increase the total of our orders.

Is everyone else up to the challenge? I bet you are – GO FOR IT!

How many times a day do you ask for something extra? This month

try shouting out “YES!” each time the client says yes to something

extra

􀀹 Ask for the order

􀀹 Offer the spiff

􀀹 Only 3 left why don’t you

take them all?

􀀹 Offer a substitute

􀀹 Ask for a blanket po

􀀹 Offer a related item

in my life

in the month of april my husband and i bought a new travel trailer. we

went to the showroom knowing we wanted to buy a trailer, but not

necessarily wanting to buy one that day. the main thing i can pass along

is the salesman assumed the sale…he wasn’t pushy, he walked us thru

each step.

the moral of the story? assume the sale, when the client calls looking

for a machine, don’t treat it as an inquiry assume the sale…walk the

client thru our process.

speaking of buying new items we’ve also sold and purchased a new home.

that situation left me constantly frustrated with our real estate agent

(salesman) as he didn’t “sell” me anything. didn’t tell me about the

features of the properties we were looking at, didn’t ask until we were

well into the process what we were looking for in a new home, the only

thing i thought he was good for was filling out paperwork.

please don’t be that way with our clients. ask the questions to find out

what they need. selling them a power feed for their new mill isn’t

great if what they really need is a dro system. explain the features,

the benefits and answer the client’s questions.

julie

Use every opportunity that

comes your way, otherwise

someone else will!

You will never find time

for anything. If you want

time you must make it

Charles Buxton

Language and Vocabulary

Sometimes slang and colloquial sayings will seep into our

conversations with our clients. One of those words is just;

Daniel in Mississauga has some thoughts on the subject:

Think about what you’ve said to the clients recently, or if

your phone has the ability to record, record and listen to some

calls. What phrases or words should you eliminate from your

vocabulary? What phrases or words should you add or use

more often?

From Daniel:

“JUST”

The definition of the word “just”:

By a narrow margin; barely: The arrow just missed the mark.

This is not who we are at KBC. We are not just a tool

supplier. We are not just doing our job. We are not just

providing our customer’s good, better, and best pricing with

value added service. WE ARE!

We do not miss the mark, we are spot on. So why should we

imply that we just, might, maybe. You need answers? We

have them! You need tools? We have them! You need a great

team? We are one!

We strive for the Best. Best service. Best lead time. Best

attitude.

So next time don’t just jump, Take off and fly.

Sell! Sell! SELL!

Thank you for reading, and happy SELLING this June and every

month!

Team KBC Mississauga

 

PUMP UP THE ACCOUNTS RECEIVABLE – June 2012

 

GREETINGS FROM OLDCASTLE

SUMMER IS HERE AND IT’S TIME TO PUT THE HEAT ON OUR DELINQUENT ACCOUNTS AND COLLECT OUR MONEY.

• USE YOUR NOTES FOR BACKUP

• WATCH THEIR HISTORY AND      STAY ON TOP OF THEM

• USE THE HOLD AS A TOOL (IT      CAN BE VERY ADVANTAGEOUS)

• USE YOUR AGED AR AND CALL      YOUR CUSTOMERS AT 45 DAYS

• HOLD YOUR CUSTOMERS TO      THEIR PROMISES OF PAYMENT

• HAVE A GOOD RAPPORT WITH      THEIR ACCOUNTING DEPARTMENTS (IT HELPS) REMEMBER THE NAME OF THE ACCOUNTS      PAYABLE PERSON.

• SEND OUT YOUR STATEMENTS 2X      PER MONTH.

-2-

 

DEBT  COLLECTION STEPS

 

IN THE YEARS I HAVE BEEN COLLECTING ACCOUNTS RECEIVABLE I HAVE LEARNED THAT FLEXIBILITY AND CREATIVITY IN CHASING OUTSTANDING AMOUNTS ON CUSTOMER ACCOUNTS CAN PAY OFF WHEN THE HARD NOSED TRADITIONAL METHODS FAIL.   THE GOAL IS TO UNDERSTAND VARIOUS DEBT RECOVERY PROCESSES, PROCEDURES, AND METHODS.  ONCE WE UNDERSTAND, WE CAN WORK TOGETHER TO FIND THE BEST SOLUTION FOR KBC AND OUR CUSTOMER.

THERE ARE MANY REASONS WHY OUR CUSTOMERS DON’T PAY THEIR DEBTS.  SOMETIMES DEBTS ARE NOT PAID SIMPLY BECAUSE THEY DO NOT HAVE THE FUNDS TO PAY THE OUTSTANDING BALANCE.  TRYING TO GAIN AN UNDERSTANDING OF WHY THE DEBT REMAINS UNPAID CAN OFTEN LEAD TO A SOLUTION FOR BOTH OUR CUSTOMERS AND KBC TOOLS.

SOMETIMES A SIMPLE SOLUTION SUCH AS A PAYMENT SCHEDULE MAY BE ALL THAT IS REQUIRED TO PAY DOWN THE DEBT OVER TIME.  IN OTHER MORE DRASTIC SITUATIONS A MORE ADVANCED DEBT RECOVERY TACTIC MAY BE REQUIRED, SUCH AS SMALL CLAIMS COURT OR OUR COLLECTION AGENCY.

-3-

I HAVE FOUND A QUOTATION THAT IS VERY INTERESTING.

“ONLY ACCOUNTANTS CAN SAVE THE WORLD THROUGH  PEACE, GOODWILL AND RECONCILIATION”

HAVE A GREAT MONTH AND COLLECT, COLLECT, COLLECT. BRING IN THE MONEY. $$$$$$$

PUMP UP THE SALES – February 2012

With ALL that is going on at KBC today, with our expected “GO LIVE” set for June in our new P21 System, taking courses and applicable tests, learning OE, AR, AP, Purchasing……, setting stock levels, getting inventories correct, mapping order processes and cross docking procedures, plus trying to keep up with our daily activities, we should Not lose sight of the important issues that make All this possible……….. SALES!

I hate to beat a dead horse, but if you’re going to beat an animal, be it a horse, dog, or cat, it should be Dead with perhaps the cat being the exception.  The key or keys to Increased Sales is or are:

1. Knowledge:  KNOW the difference between a shell mill and a shell reamer, an arbor from an adaptor, a square from a protractor, that a 25” chuck weighs more than 50lbs; you Don’t need to know what it weighs, but know more than, less than, larger than, and smaller than.  None of this is rocket science.
2.                         Customer Service:  We say 100% Satisfaction Guaranteed.  If you Don’t mean it, Don’t say it and for the sake of my sanity, Don’t put it in print.  From a local service call on a Machine, to a replacement part for a “Non-Warranty” item, or a replacement of an item purchased and returned in a few days – it Hasn’t Satisfied them, regardless of the reason.  Step Up, stand behind your claim and make them Satisfied!
3. Dependability:  Be a truthful White foot, Not a lying Black foot.  Say what you mean, Mean what you say.  Be Reliable.  Don’t  No stock; check into why, when, and how it can happen.  Offer Substitutes and Upsell with related items.

You can’t do any of the above without knowing your product, who makes it, where it comes from, and how long it will take to get it.

We have a lot of irons in the fire right now.  A lot of new and exciting changes are coming to KBC, but the context of this P.U.T.S. has Never and Never will change.

Thank you and Good Night

xoxo

JE – Michigan

p.s.   You would think with ALL my talk about Dependability and Reliability, this    P.U.T.S. would have arrived in a more timely manner; sorry for the delay.

PUMP UP THE ACCOUNTS RECEIVABLE – May 2011

Every month we try to come up with a different or better way to do the job of collecting the money.  Now that the economy is doing better, it is more important than ever to make decisions on giving credit or extending terms.  Businesses that have been barely getting by with a small job here and there now find themselves with much bigger demands.  While this is very good for them, some spread themselves too thin either by ordering equipment they need to meet the increase in demand or tooling they need to complete the job.  The big problem for them could be Cash Flow to afford their purchases until they receive payment for the jobs completed.  We, on the other hand, love the increase in sales, but must weigh that against non or slow payment.  So, dot your I’s and cross all your T’s in making the right decision, or you will truly be pumping up the A/R!

 

This is the time to follow timelines more closely.  If they feel they can put you at the bottom of the list of payables, that is exactly where you’ll end up.  Make your calls early and often.  Don’t hesitate to hold an order hostage until payment is received.   Always log All calls in the Notes program in the computer.  This is very important, as it establishes a track record of their payment history and their excuses.   It’s very easy to spot a particular pattern here.  And when you have to call them again, and they give you the Same excuse, it’s nice to be able to immediately tell them the Date they Already told you that!  It’s a great tool, so use it.  In addition to the A/R notes, you should put All important information off of credit reference applications and credit reports into the computer.  You should be able to look at everything in the computer, without having to pull a paper copy.  And, should you need an ok from Paula or MI, you can easily copy and paste any or all of this information and send in an email.  Follow your instincts and learn to trust you gut.  If you have a feeling an account is headed in the wrong direction, it probably is.  This may be the time to look at the credit reference information you have on file and make new calls to the references and see if their reply has changed.  Michigan can also check them out in D&B.  Use all the resources we have available.

 

That said, I feel the best way to work in collections is to try to build personal relationships with the people you’re collecting from.   Again, any information you can get that will be helpful should be logged in your notes.   It is much easier to make that dreaded call if you have a name connected to the account that you can talk to and get the “real” lowdown as to if and when you will receive your next check.

 

When you trust what is being told to you, it is a lot easier to make these decisions as to whether you can increase limits or extend terms.  Remember, the second biggest lie is “the check is in the mail”.  I don’t remember the first.

 

KBC MICHIGAN

J.E.

PUMP UP THE SALES – May 2011

Wow – we have all certainly been pumping up our sales this year, so now that we are heading back into the swing of things why don’t we try to see if we can identify where potential opportunities lie and how can we potentially increase our sales at the same time??

Come out, come out, wherever you are!!!!!!

Opportunities are everywhere, let’s have a look.

Practicing asking for the sale – Spiffs are an excellent way to help you overcome your resistance to asking for a sale.  They are usually neat little items that almost any shop can use.   All you need to do is find your way to offer it, and once you’ve done that, its gravy!  And, you get the opportunity to try your technique, adjust it, refine it, and eventually perfect it with every call you take and every client you serve at the counter.  Remember, practice makes perfect, so take full advantage of every opportunity you have to try it.  Initially, it may seem awkward but once you get the hang of it, it will be easier and more comfortable.

THAT WAS EASY!!

Here is another opportunity

Looking to feel more awkward??  Of course you are.  By starting this next practice, you will temporarily feel more awkward but eventually feel comfortable and make more sales!

Start the practice of asking for referrals, the opportunity is that they are right there for you to ask.  You know the saying “can’t see the forest for the trees”? Sometimes we are so wrapped up in the day to day that we can’t see opportunities that call us, literally.  So ask your clients who else can benefit from knowing about KBC Tools.  Who do they know that uses tooling, machinery, safety, etc., etc?  We always say here in Mississauga that there would be nothing if it weren’t for tools, and who sells tools, that’s right, WE DO!!

So, go after those names and companies and see who else we can help with our awesome products.

Ready for another???

When quoting machinery, don’t forget to put the additional blades, cutters, endmills, chucks, fluids, dro’s, etc, on the quote when you send – even if they didn’t ask for it, especially if they didn’t ask for it.  It’s so much easier for the client to say yes when they have the information they need right in front of them.  Don’t make them go searching for information when we already know what goes with the machinery.  Let’s make it easy for the client and put it out there for them.  If they don’t need it, that’s fine, but if they do and didn’t think of it, they’ll surely be happy that we did J

THIS ONE IS FOR THE CREDIT DEPARTMENT – Always keep in mind when you are checking credit if you come across a client whose refs are in our industry are grade a, buying lots, paying well, long term – ensure that you hand that account over to one of your sales team to follow up on.  if your competition is selling loads we should too.   Look to see If the company has sister companies, branches, multi-locations, etc., LETS get some info out to them.

And of course, there is also the reference itself that may be of interest to you.

Sometimes, you may Spot an item that we never sell, bought by mistake, used to sell, now have excess inventory on , you don’t always have to wait until a client asks for a discount, sometimes we can offer it up ourselves.  Do we really want loads of widgets on the shelf for 2 + years, NOOOOOO!  If you have a client asking about that item, see if they will take a quantity deal, a certain % off for a quantity of that non-moving item.  Try it you may make a sale and clear out some unnecessary inventory

Opportunities are everywhere.

and, opportunities to practice opportunities are as well.

 

Sell, Sell, Sell!     – KBC Mississauga

PUMP UP THE ACCOUNTS RECEIVABLE – October 2010

Pump Up the A/R is ambiguous to the Receivables.  In the immortal words of Hans & Franz, “we’re here to PUMP YOU UP”!

Most articles on Receivables are all about Collecting, Offering different Techniques, and/or Schemes and Tricks to get monies from aged accounts; which really is pumping down the A/R, hence the word “ambiguous”.

To “Pump Up the A/R” as such, would be easy with “Loose Credit Policies”.  To Pump Up a “Healthy Aged Receivables”, you have to start long before they reach 45 or 60 days.  So, to Pump Up the A/R, we have to First Pump Up the Sales.  I’m beginning to see a connection between the two.

If as much time was spent on the accounts at the initial point of sale in opening their account, less time would have to be spent in collecting from those same sales.  The effort put in to the techniques, schemes, and tricks used in collections (slightly altered), could and should be used in increasing “Healthy” Sales and the end result would be??? You guessed it, a “Pumped Up A/R”.

Now that I have your attention, regarding the initial sale – true, it IS much easier to accept a Credit Card to insure immediate shipping and immediate payment.  However, the customer should be made aware that at KBC, they can get the Same fast action if they open a Commercial Account.  And by doing so, it tends to make it a more serious relationship and not just another “one night stand”.  A little effort in the beginning, gives them an “Open Account” and makes All their future orders much more convenient.  And, by doing that, gives the customer, I think, a feeling that we are taking them more serious and again, I think, shows Respect and an Interest to continue the relationship.

To sum it up, we need and want to Pump Up Sales, Receivables, and Long-Term Relationships with our Customers, not necessarily in that order.

 

xoxoxo

J.E. – Michigan