Some retailers need to be able to extend lines of credit to customers. For instance, if you sell large farm equipment, it’s likely that many of the local farmers would have lines of credit at your store so that they could make necessary purchases on the spot. Having the ability of managing customer credit purchases provides a great level of service and convenience to your loyal customers. This also introduces a great deal of complexity into your workflow. Not only do you have all of the other management tasks that go along with owning a retail business, you now have to manage credit accounts, which can get tricky. Also most POS systems do not have the ability to manage credit accounts.
Solving the Problem
Posterita has features built into it that allow you to manage credit accounts. It cannot only allow you to track credit purchases, but also can allow you to track partial payments, the current state of accounts and much more. It also allows you to automate the process involved with communicating with your customers. When you need to print out a credit invoice, for instance, Posterita can do it automatically for you. It can also automatically send out e-mails, if that is how your customers prefer to receive their invoices. This ensures that your collection activities are always current.
Unfortunately, there will always be customers who let their credit accounts go without paying on them according to the terms of service. Again, Posterita provides you with a solution. Posterita can keep track of the age of accounts and make certain that you’re aware of it when somebody’s account is overdue. You don’t have to crack open a journal or a separate spreadsheet to figure this out. Posterita can be set up so it lets you know automatically.
When you can identify problems quickly, you can avoid long-term issues. You can, for instance, implement your own collections procedure so that you don’t end up having to hire some third party collection agency to handle the debt for you. In some cases, this may actually help you to preserve a customer relationship. You can also track how many days and how much a customer owes, making it easy to address the two most important aspects of credit accounts.
Accurate tracking, timely reports and preserving customer relationships are all ways that Posterita can help you and your retail establishment.