August 25, 2021
If you’ve listened to the RIABU podcast in the past, you’ll know we have an aversion to automating everything in the customer relationship. Because automated messages and emails are easy to ignore.
But there is a role for technology to improve customer intimacy, as in not going on a date with your customer, but about making a date with your customer to talk about payments.
RIABU’s Simon Littlewood tells Mark Laudi how we can use online tools to replace face-to-face meetings, and how to approach your customers in a slightly different way.
August 24, 2021
If you have read our book, Let The Cash Flow, you will know that just keeping your customer to the time period of payment is difficult.
Even if you had already agreed on terms at the beginning of the relationship and things start off well, payments usually get gradually slower. This natural creep goes against your pre-agreed terms, and it will only get worse if you do not catch it.
Simon Littlewood tells Mark Laudi how to keep an eye on your payment dates.
August 23, 2021
We speak to someone who has found success in getting her customers to pay her on time!
Cheryl Chan, Global Tender Manager of ModuResources, said in an interview with Simon Littlewood that getting paid on time is down to understanding the customer's payment processes and maintaining a high level of communication.
Listen to Chan tell Simon Littlewood how making the unusual request to meet the finance team during the initial discussions gives her an understanding of how the client's processes work and knowing the contact details of people she can call about payment matters.
August 6, 2021
If you have run a business you'd be familiar with this feeling: it is time for the customer to pay but you haven’t received anything, and you realise you have no idea who to write to or call. Or that you know exactly nothing about your customer’s internal payment processes.
At RIABU, we recommend doing your homework on when your customer pays its suppliers, how it does it, and other details.
Listen to RIABU’s Simon J. Littlewood tell Mark Laudi how much detail you should get into when finding out about your new customer’s processes.
August 5, 2021
Collecting receivables is often seen as something that is done only by the finance department. And if you’re a regular listener of the RIABU podcast, you’ll know that we have broadened the responsibility to include salespeople.
But is there anybody else in the organisation who has to keep up with the state of collections?
The title might give it away, but listen to us as RIABU’s Simon Littlewood tells Mark Laudi about the most important people to keep track of receivables, and how such a culture must be present in an organisation that wants to be paid on time.
August 4, 2021
Your salespeople are not the ones who are writing the invoice and they do not worry about your profit and balance sheet at night.
In fact, if their commissions are not tied to the receivables, salespeople are human and finding out about the balance sheet of the company is probably low down their list of priorities.
After all, salespeople are good at what they do - selling - and why should you complicate things?
RIABU’s Simon Littlewood tells Mark Laudi why it is important to educate your salespeople on certain performance metrics of the company, and how it can be an...adventure.
August 2, 2021
Suppliers are often the last to find out if a customer is having problems with paying them.
Foresight is better than hindsight. But most of the time suppliers find out too late. Some rely on third-party resources such as subscribing to business intelligence services. But we think we can find out just as much from our contact with our customers.
What are the signs that customers show before they even start having financial stress?
RIABU’s Simon Littlewood tells Mark Laudi the signs to look out for, such as a decrease in business activity, slowing down in payments, an increase in unavailability of the people you want to talk to...listen to find out more.
August 2, 2021
Let’s say you have done all that we have asked you to do. And you think you have some good processes in place.
But how do you measure the success of the RIABU method?
RIABU’s Simon Littlewood tells Mark Laudi how assessing some measures are as easy as Yes/No, like: "have we gotten this process in place?" And "do we have a proper credit policy?"
Then there are other measurements that are more quantitative, and just as important. Listen to find out more.