The ability to listen, educate and instil trust are all factors that smooth dialogue with a late-paying customer. Collectors explains they are there to help find a solution. They therefore explain the position of the supplier who has submitted the overdue payment for them to collect, that they do not intend to act as their customers’ bank. Customers understand these arguments.
Collectors, as a neutral party in the customer’s eyes, can quickly pinpoint the source of the payment problem, and then find a solution that satisfies both sides. If the late payment is the result of a dispute over the order, they collect a description of the shortcomings in question from the customer and the “undisputed” aspects to report this information back to the supplier. If cash flow is the problem, they will suggest rescheduling reasonable proportions. Euler Hermes is in a better position to offer this solution, whereas suppliers are unable to jeopardise their cash flow.