Over 90% of people are more than willing to leave organizations due to bad service. With the liquidity crisis of the last year and a half still in full swing, a strong cash conversion cycle is important to help deal with the economic downturn.
Payment options or the lack thereof, have been an issue with traditional accounts receivable. You may say, “ Nobody writes checks anymore” and you’d be partially right. Yes, the average person writes fewer checks than they did ten years ago. For 40% of all B2B payments, checks are still the primary form of payment. However, this is beginning to change. Giving customers multiple ways to make payments drastically increases the likelihood of you getting paid. Electronic payments make payments quicker and easier, the magic words your customers want to hear.
Clear communication is rare in this industry and that’s what can set you apart. A large number of customers find it overly difficult to contact their accounts receivable teams. We can proudly say when you call KW Receivables you’ll get a real person and not an automated system. Two-way communication gives the customer a sense of loyalty and understanding that you have their best interest at heart.
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