|
|
 |
|
|
|
|
|
An incentive to pay, a means to collect
You know the old adage, time is money, well now is the time to collect your money. E-Collection is a method of accounts receivable collection that integrates both the Internet and discount incentives into the collection process to speed up the movement of money. If you are willing to provide prompt-payment discount incentives to your customers to encourage speedy payment, then our e-Collection solution is right for you.
We use the power of the Internet to provide you an easy way to offer instantaneous prompt-pay discount incentives to your customers. We then apply our expert collection services to encourage your customers to take advantage of the discount you offered by making quick electronic payment to meet your deadline.
The key to this method of collection, of course, is the use of discount incentives to help collect your money faster. When cash flow is a concern many suppliers, subs, or even generals are willing to offer discount incentives in order to get paid right away.
Historically, suppliers have often given prompt pay discounts of 2% for payment in 10 days from the invoice date. The problem with this method of discounting, however, is that payment is seldom received in 10 days yet a discount is still taken. At times, some payers even take the discount though payment is made more than 30 days beyond the invoice date. Thus, the payment incentive is gone.
There is no question that incentives work, particularly when the incentive is money. That is because each party to a transaction benefits from payment incentives; the payer benefits from a discounted cost of materials or services while the payee gains the early use of money, a true win-win for both parties.
The simple key to a working incentive is to establish the precise rules of the game and to present the incentive in the proper way.
We provide a platform for a company to offer a discount incentive to encourage payment while being assured that a strict set of rules will be followed, which eliminates fear that a company will be taken advantage of by the payer. In addition, our method of offering a payment incentive gives you the ability to offer this form of discount in almost any combination of time and money…instantaneously.
Further, our e-Collection service gives a payee the means to collect payment without a difficult negotiating session or demand for payment. It is sometimes tricky to verbally request prompt payment and ask for new business at the same time. We provide a means to separate the two, allowing you to concentrate on new business while we do the collecting.
Collecting money at Internet speed requires an incentive, superb negotiating skill, and a speedy form of electronic payment.
You provide the incentive and we'll provide the rest.
|
|
|
