Customer disputes over payment can tie up an alarming amount of cash. Unfortunately, many times, no one takes immediate action to resolve the disputes and they pile up. In order to maintain cash flow, these disputes must be put to rest quickly and efficiently. For this to take place, the dispute must be brought to the attention of the cash flow manager.
To facilitate the speedy solution of disputes, there must be effective communication within the company, so when the customer does call or write with the dispute, it is circulated immediately to all who need to know about it.
There are two types of disputes: real ones and pay stalls. Customers stalling on a payment are unlikely to try to bring the dispute to an immediate resolution. It is up to the company to do so. If disputes are brought to quick resolution, ending with either an apology to the customer or a polite request for payment, the pay stall technique will cease to work. Other customers will appreciate the quick attention, and business will improve.