Faced with the major economic crisis that has started, treasury is the elixir of long life for our companies.
Only cash will allow them to overcome a difficult period and adapt to the new conditions that will be imposed by the market.
To prepare, strengthen and preserve your business' treasury, count above all on yourself and your ability to accelerate cash collections.
Do not lose a minute! Take action!
- Contact your customers to obtain promises to pay, and when this is not possible, to take into account their difficulties.
- Favor dialogue and engaging agreements. If necessary, validate with them a payment plan. Show that you are present, demanding while listening to the legitimate problems they may encounter.
- Each customer, whatever its size, each invoice, whatever its amount must be actively managed. Shortened collection scenarios, specific actions, alerts, reports, etc. In My DSO Manager you can find all the tools needed to carry out these missions.
- Anticipate the risk of insolvency and prioritize your actions on the most fragile clients.
More time passes, more the financial consequences will be felt in companies.
Be present with your customers, and you will be paid in priority. Be lax and your open invoices will be forgotten, voluntarily or not.
- The urgency is to be in the right, precise and massive actions on your whole portfolio of customers.
- For the highest stakes, we recommend that you bet on human relations and create allies among your customers.
- If you have time, read our tutorial on the keys of cash collection, even more true nowadays.
Faced with this exceptional situation, all My DSO Manager team is mobilized to help you overcome the crisis with an optimal management of your Accounts Receivable.