Bill Collector In A Box Advises Entrepreneurs How To Get Paid

Chasing down a debtor who is long overdue in settling a past-due invoice is a time-consuming and frustrating aspect of running a small or medium-size business. But what many business owners may not realize is that the procedures they put in place before they even conduct a credit transaction can make it easier to settle a past-due account down the road.

"By obtaining the proper information upfront–before any credit terms are agreed to–business owners can avoid unnecessary effort and expense later, especially if the customer is unwilling to pay or is trying to avoid attempts to be contacted," says Ryon Gambill, a collections professional and CEO of Marauder Corp., the company that designed Bill Collector In A Box to help entrepreneurs and business owners collect past-due invoices. 

To reduce the need for collections measures, Gambill advises entrepreneurs and business owners to implement the following policies into their invoicing and billing procedures:

- Collect personal and business references, including name and telephone number and the reference’s relationship to the customer.
- Do not accept post-office boxes or private mail boxes as ship-to or billing addresses; be certain that you have the actual street address of the business.
- Obtain home, cell and work telephone numbers from your customer.
- If it is a business account, ask if they use purchase orders. If they do, record the purchase order number on every invoice.
- If you are extending credit to a business, get a personal guarantee from the owner.
- When dealing with someone who is not an owner of the business, make certain that the person is authorized to conduct business on behalf of the company.
- Ask for and verify bank and credit references before the first sale. If possible, and with the proper authorization, run a credit report. This will indicate how they have previously handled their financial obligations.