Contacting delinquent customers is essential for the financial health of a business. This communication must be done in a clear and respectful manner, seeking to understand the customer's situation and offer viable solutions to regularize the debt, strengthening the relationship and avoiding losses.
Customers are an important part of every company. They are one of the pillars that keeps the business running through consumption and payment for the services and products provided. In addition, they can also be a reason to attract new customers, when they become loyal and recommend the product to others.
Therefore, it is natural that, when defaulting customers appear , there is a belgium mobile database imbalance in the company's cash flow.
Although most businesses seek stability so that this does not cause drastic effects, there must be a plan to combat and resolve defaults. This is because if there is no intelligent management, this situation can get out of control and compromise the company's financial health.
To help you stay ahead of the game, we’ve brought you essential information about defaulting customers and how to overcome this problem. Keep reading to find out the best tips and strategies.
What is default?
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Default is when a customer consumes a product or service from your company and does not comply with the payment date agreed upon at the time of purchase.
It is important to differentiate default from insolvency.
Default is when a customer is late in making a payment but makes it at a certain time. Insolvency is when a customer does not pay due to a lack of financial means to do so.