ARE YOU PREPARED FOR THAT DREADED "SUMMER DIP"​ IN CASH AND COLLECTIONS?

Written By Guest User

If you are responsible for managing cash, you probably have already forecasted a decrease in payments. 

Here are my best tips to significantly decrease that summer cash dip.

  1. Setting your customers up on automatic payment using ACH or credit card where your team is pulling the payment on their due date automatically!

  2. Train your collections team to push for the next invoice coming due plus the past due invoices.

  3. Ask your customers when you can expect payment with planned company holidays/shutdowns 2 weeks prior to those events happening.

  4. When your collectors are going out to be out of the office, they should ask for the next invoice coming due as well, in preparation for their time off.

Which tip(s) above is your organization already doing today?

Katie Keich, July 15, 2021

Guest User
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