The Psychology of Accounts Receivable

No matter how automated the process of accounts receivable becomes, you’re still dealing with real people that need to pay you. There is always someone on the other end of the phone who is giving you the excuse for not paying or explaining why they need to dispute the invoice. In order to figure out the best way to deal with late payment, it is best to look at accounts receivable from a psychological stand point. Knowing how your customer’s behavior impacts their payment or non-payment can help you to avoid a crisis before it occurs. Further, understanding how your behavior can impact a customer’s payment can help you to get paid even faster.
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