The economic recession that has hit the country since 2015 has been directly affecting the pace of business and cash generation of companies. This recessionary scenario generates a very uncomfortable situation, but common in times of crisis: default. According to data from Serasa Experian , released in June of last year, the number of defaulting companies in Brazil is 4.4 million, which represents more than half of the total number of businesses operating in the national scenario, which is 8 million. Also according to the survey, the overdue debts, which total more than R$105 billion, are concentrated mostly in the trade and services sectors.
Restrictions on obtaining credit, falling sales and defaulting on payments by individual customers are the main factors that make it difficult for companies to keep their accounts up to date. Therefore, it is very important to pay attention to management in order to avoid unforeseen events, and consequently to include organizations in the credit protection services available on the market. Check out 4 tips below to avoid corporate default.
Content
1. Prevention is the best way
2. Manage payments
3. Invest in billing cycles and make it easier to receive payments
4. Efficient billing
1. Prevention is the best way
Late payments and non-payments are part of the reality for most companies, especially those in the trade and services sectors. Therefore, creating ways to work on these issues with customers is a recommended action for corporations that want to reduce or even avoid defaults in their businesses.
For example, friendly reminders via email and text message that reinforce invoice due dates are a good way to show customers that your company is aware of the payment canadian ceo email list terms offered. In addition to drawing attention to the payment of outstanding installments, this action helps people organize themselves in order to pay their bills on time. Offering discounts for advance payments or direct debits from a checking account are also practices that help keep your income in order.
2. Manage payments
Controlling payment deadlines can be essential for managing customer defaults and the situation of each customer. Analyses such as the percentage of people with overdue bills, the time of year with the highest default rate, the most common profile of customers who tend to delay payments, among others, are some of the possibilities that organizations have to create strategies that minimize problems related to consumers' failure to pay their debts. In this sense, technology can be a great ally in management work, since there are many software programs available on the market that can help with functions such as customer registration, updating information related to purchase history and bank reconciliation .
3. Invest in billing cycles and make it easier to receive payments
Grouping due dates is one of the most efficient ways to maintain healthy billing cycles. Be flexible and analyze the profile of your target audience before determining which days will be chosen for receiving invoices, as you need to make dates available that meet consumer expectations.