Why collections teams are shifting from ‘pay up, or else’
Most collections processes were designed for transactional, one-time payment businesses where the goal was to recover as much money as possible from products that were already shipped, or services that were already rendered. Essentially, you were shaking people down, hoping to get eighty cents on the dollar. But in a recurring revenue business, we’re talking about ongoing customer relationships. That traditional mindset is outdated, and puts your whole business at risk.