Difficult To Collect Customers

[DonImus]

inputs ko lang sa delinquent mag-bayad:

 

Fiesta Casino

F-Salon

Triple V

Gerry's Grill

[serolf]

i think we should avoid mentioning names of companies whom we have a bad experience when it comes to collection. let's not jump into conclusion. what you have experienced may not have happened to other companies

[DonImus]

I myself would have appreciated the heads up before doing business with such companies. It makes life a lot easier if you don't have money stuck in these. People are still free to transact with them, it's basically just a caveat. I really do think it's more helpful if names are posted. It's not like we're posting in a newspaper or advertising over t.v., it's just among friends. But that's just me

[DonImus]

By the way, F-Salon was featured last night in Channel 2 for a client complaint and for selling products without the proper licenses. So they're just not cheapskates they're downright cheats.

[arn_arn]

Guys ask ko lang paano ninyo nasabi na bad clients or whatsoever ang mga na mentioned na companies na to?

Umuutang ba sila sa inyo?

 

My dad also had a business (money lending stuff) pero ang naecounter ko sa kanya yung mga client either namatay na.

Ayun medyo hindi maipinta yung mukha.

 

hehehehehe

[lucky8storeph]

Im in favor for posting the name of proven delinquent COMPANIES.

 

Money is a precious thing .

[DonImus]

Here's how it usually works...if you supply high turnover items like food/meat for example your delivery would usually be twice or even several times more per week. The bad clients would usually start out to be good payers for the first few weeks and then gradually you'd see the terms growing longer and longer. The killer here is that you're still doing the same number of deliveries per week and not getting paid on time and before you know it your receivables have sky-rocketed.

 

Why not stop delivery you might ask? Well, that's easier said than done. Remember, you're dealing with these people in good faith and that's exactly why you're in business with them in the first place. So whenever there would be delays in payment you'd usually just shrug it off and accept whatever excuse they make. By the time you finally realize that these are indeed bad clients your receivables have ballooned to unacceptable levels. I'm not talking about months here, this could happen in just weeks or even days depending on the frequency and the value of every delivery.

 

I sometimes get to deal only with workers so I could understand why they could be so dishonorable in their dealings. They usually ask for kick-backs and the usual padulas before they release payment. Pero yung mga pang-asar talaga eh pag may-ari na ang kausap mo tapos iipitin ka pa rin sa bayad. It's even more annoying to know that they get paid in cash so you know they have the money!

 

Whoever came up with this mentality that if you don't hold payment for as long as possible you're not a good businessman is doing a great disservice to our economy. A buyer is also a supplier to somebody else, if everybody does this dirty tactic who wins in the end? An Australian friend of mine attempted to do business here supplying to hotels but eventually packed up and left because of the difficulty in collecting payments. If it's 30days we agreed upon it's 30days i should be able to collect from you he told me. Most hotels, even the 5 star ones, are bad clients but this is during the off-peak season for tourist, maybe it's different during peak.

 

Mind you most of these bad clients are doing good business so it's really out of bad faith and lack of breeding that they hold payment.

 

I pay my suppliers on time. I get really pissed when I'm late in my own payments because a bad client screwed me once again. It's a very unfortunate vicious cycle.

[joss]

pag may pautang na mahirap singin pinag titiyagaan ko lang kahit konti lang tinatangap ko yung bayad basta maka bawas lang sa utang. at saka bawal ang galit pag ikaw ang may kailangan hehehe cool lang . pero pag nasingil ko na lahat ayun@#%#$%$#% saka ka mag wala hahahaha. pero pag di ko nasingil bahala na siya sa buhay niya. ganun talaga buhay di naman lagi panalo may talo din dami kasing walnghiya ngayon, nagugulat nga ako kung sino pa yung mga educadong tao yun pa ang manloloko ..ano ba natutunan ngayon sa mga skwelahan? di nila alam sa business pangalan ang #1 mo i pupundar pag nasira ka ........... sira ulo mo.

[hardasarock]

Here's how it usually works...if you supply high turnover items like food/meat for example your delivery would usually be twice or even several times more per week. The bad clients would usually start out to be good payers for the first few weeks and then gradually you'd see the terms growing longer and longer. The killer here is that you're still doing the same number of deliveries per week and not getting paid on time and before you know it your receivables have sky-rocketed.

 

Why not stop delivery you might ask? Well, that's easier said than done. Remember, you're dealing with these people in good faith and that's exactly why you're in business with them in the first place. So whenever there would be delays in payment you'd usually just shrug it off and accept whatever excuse they make. By the time you finally realize that these are indeed bad clients your receivables have ballooned to unacceptable levels. I'm not talking about months here, this could happen in just weeks or even days depending on the frequency and the value of every delivery.

 

I sometimes get to deal only with workers so I could understand why they could be so dishonorable in their dealings. They usually ask for kick-backs and the usual padulas before they release payment. Pero yung mga pang-asar talaga eh pag may-ari na ang kausap mo tapos iipitin ka pa rin sa bayad. It's even more annoying to know that they get paid in cash so you know they have the money!

 

Whoever came up with this mentality that if you don't hold payment for as long as possible you're not a good businessman is doing a great disservice to our economy. A buyer is also a supplier to somebody else, if everybody does this dirty tactic who wins in the end? An Australian friend of mine attempted to do business here supplying to hotels but eventually packed up and left because of the difficulty in collecting payments. If it's 30days we agreed upon it's 30days i should be able to collect from you he told me. Most hotels, even the 5 star ones, are bad clients but this is during the off-peak season for tourist, maybe it's different during peak.

 

Mind you most of these bad clients are doing good business so it's really out of bad faith and lack of breeding that they hold payment.

 

I pay my suppliers on time. I get really pissed when I'm late in my own payments because a bad client screwed me once again. It's a very unfortunate vicious cycle.

 

 

iwanan mo yung bad customers para walang sakit ng ulo. We hold our deliveries to our customers who are late in sending their PDc checks. You can concentrate to good customers

[albert.chavez]

masakit sa ulo cstmers na matagal magbyad lalo ung hndi corporate pwede ka pa takbuhan

[Google]

as a businessman for 10 years, collection is one of the biggest issue. for one, clients tend to really hold on to their cash up to the time na talagang hindi na maiiwasang ibayad na talaga. its a basic human and business instinct.

however, some of these ideas work for me:

 

a) we really enforce the terms and conditions of the contract in terms of payment. kung may delay or overdue, we do a penalty on our next billing. you have to make it known to your customers that their delay of payment exerts pressure on your business. so far, i have done these to around 4 huge clients and they worked. in fact, naging ally ko na nga yung CIO ng isang huge manufacturing company wherein, pag nagkakaproblema kami sa invoice, everything is escalated to them. however, to do this, you have to provide the best post-sales service possible para may momentum ka.

in relation to item a., we also give rebates if they are paying before the due date.

c) we are also involving our account managers on the collections, since it is the concept that collections is still part of sales and accounts management. we deduct what we call "cost of money" on the commissions if we found out or determine that the actual collection overdue is due to the kapabayaan ng account manager (like documents that need to be done prior to collections). however, we do give out some small incentives to our account managers if they are able to collect in time.

 

so far, in two years, our collection efficiency has increased from 40% to 85%.

 

siguro, these things can also work for individual, non-corporate or retail clients.

Edited August 18, 2014 by Google

[johnlove]

my friend told me to be aware of hotel kimberly along malate, classic case of lousy payer with excuses such as the boss is out, no signature on the check, the accoutant is out, the drawer is locked. blah blah blah. be careful of a certain ms juvee (purchaser) and ms ann (check releasing), these gals work in tandem to give their suppliers hell.

Over 50% of the restaurants in Malate are difficult to deal with.

But if you monitor their sales, lots of customers are coming in and out of the premise.

 

In Quezon City, it is even worst.

Over 50% of the restaurants close in the 1st two years.

 

Maybe our average commercial rent is too high.

Edited August 7, 2015 by johnlove