More and more debt collection companies propose the use of the prevention stamps to their clients. Some of them provide them free of charge, within continuous cooperation, and others as an incentive, at a preferential price, in order to convince the hesitant persons to test the effectiveness of the quasi – debt collection solutions.
Is the prevention stamp solely a marketing lure used by the debt collection companies to arouse interest of the clients in their services? What is the sense of using them and is there any real benefit for our company therefrom?
Prevention stamp consists usually of a graphic mark containing the logo of the debt collection company as well as brief information on the fact that a failure to make the payment in a timely manner will result in ordering of the debt collection to the company that owns the stamp. The stamp is usually put on invoices and sometimes on letters containing a call for payment. The trend connected with the use of the prevention stamps is still a novelty and this is why there is no unambiguous data, on the basis of which it could be stated how their use affects the timeliness of payment of the due amounts by the business partners in percentage terms.
However, it certainly fulfils its basic function, i.e. it is a signal that the company monitors the timeliness of payments. We have already been writing about the significance of payment monitoring in the text: Payment monitoring beneficial for every enterprise. Moreover, it also results from the stamp to the payer that the company cooperates with professional debt collectors in some form. For this reason, the prevention stamps, often called bugbears, actually discipline the payers and the invoices bearing them are in majority treated as a priority.
We encourage the entrepreneurs to use this solution since our experience convinces us that in the times of common problems with timely making of payments, the use of any tools disciplining the payers may be significant for maintenance of financial liquidity.
We should remember that the stamps will be the bugbear solely in relation to the business partners that did not intend to pay us in a timely way. So if we manage to exert pressure and obtain the payment timely by means of them, it only supports their use.
By monitoring of the payments and by putting of the prevention stamps on the letters, we may protect ourselves against loss of financial liquidity and occurrence of receivables, for which the debt collection process will have to be commenced.
Published on: 9 November 2016