The sale is not complete....
Many among you can complete the above sentence. Yes, here it goes: The sale is not complete until the payment is collected!
Yes, there is no fun if the payment is delayed or worse still if for some reason it is not collected or only a part of it is collected.
It is advisable that payment are collected in advance or against delivery or immediately upon completing the work, in case of repair job.
In case of corporates one should know in advance who is responsible for making the payment.
The purchasing department may happily place orders but who is responsible for the payment?
It is the duty of the seller to gain knowledge about this aspect in advance.
In recent incident, I supplied air-conditioners to a leading insurance company, since their office was in close proximity to our showroom and we had good relationship with them. Though the pricing was very competitive and the margins realised was meagre, I did not mind.
Everything is fine.... But the payment was not made even after several weeks! I go cheesed off.
Nobody was taking resposibility for the payment. We are installing new software and only after it is successfully commissioned we can make payment and so on and so forth.
I picked up the phone and spoke to the person who came on the line. "I want to speak to somebody responsible in your company. Either the general manager, or the security guard or even you. So long as I get a responsible reply, it is okay" I said.
After enquiring what I wanted, I was connected to the accounts section. I explained and gave a bit of my mind (what else could I do?).
The payment was credited in our bank account in two days.