ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE - THE HIDDEN DEPARTMENTS (PART TWO)
If we came looking for your business's Accounts Payable and/or Accounts Receivable contacts on your website, would we find them? I suspect not!
The question then is; "Why are these two contacts hidden from general view?" I would be interested in your management's rational for this decision.
In the last blog, I discussed the potential loss of cash when there is no Accounts Payable contact on the business website.
The focus in this blog, is on your Accounts Receivable.
I can see no valid reason why the Accounts Receivable contact is missing from your business website. After all, Accounts Receivable manage the cash from credit sales which is in your customer's bank account. Would this cash not be better in your bank account?
In the modern world, inceasingly, your website is the first introduction many of us have of your business. Therefore, by not displaying your Accounts Receivable contacts; are you not advertising that getting paid is not important for your business?
I am rather amazed that being paid promptly by customers, is not an important function of your business. After all, as many business professionals state in the media "Cash is King".
You may say that your Accounts Receivable contact details are already on your statements and invoices. This is just not good enough. You MUST advertise at every opportunity that being paid is important for your business.
Putting your Accounts Receivable contacts on the business website is one of the key aspects of saying to your customers; getting paid is important to your business. The Accounts Receivable contacts are also another means by which your customers are able to advise of any invoice problems or when payment has been made.
May you be paid today rather than tomorrow.