- Credit checking for new accounts
- Set up credit limit and payment term
- Define payment term vs contract
- Follow up payment and recording all feedbacks
- Collection payment and reconcile payment
- Sort out disputes/enquiries
- Decide on repayment plan in case customer is shortage of payment
- Identify debts to be written off and propose to management
Day 1: Issue invoice and send to customers Day 15: Call customers to check for receipt of invoice Day 31: Call customers and ask for payment Day 45: Send demanding payment letter Day 50: Call customers to chase for debt Day 60: Send 2nd demanding payment letter Day 90: Pass issue to legal department to chase for debt