With only a few weeks left in 2013, now is the time to ensure all year-end client payment commitments are being firmed up – and everyone at the firm is ready to make those final detailed arrangements to confirm payments by December 31. However, it’s also the time not to assume clients have all the information they need to process, mail and deliver their payments.
Listed below are a few last-minute tips that you should communicate to attorneys and staff:
• Calling clients is the best way to determine payment status. E-mails and letters can be misplaced. They do not have the same sense of urgency as a call.
• Make sure that clients have all outstanding invoices. If the client does not have the invoices, verify who should receive copies and then confirm that they have been received.
• Ask clients what day or week they expect to send payment. This gives the attorney or staff member a date to put on their calendar for follow-up. This is probably the most important step for year-end payment.
• Determine if client offices are closed the last week of the year. This will help you ensure payment is sent before the client stops writing or processing payments.
• Give everyone access to routing instructions if payment is to be sent by wire. Be ready to provide your firm’s overnight account number to clients. Let them send payments by express delivery without having to incur costs. Offer to send a messenger to local clients to pick up a check.
We hope everyone has a successful and rewarding 2013. We look forward to sharing our monthly tips again starting in February, 2014.
Happy Holidays from everyone at Client Connection!
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