Debt collection playbook: A sale is not a sale until the money is in the bank

What the playbook covers

The playbook follows the journey of an overdue invoice from the first warning signs through to collection and escalation.

It explains how to recognise four common warning signs: vague promises without a payment date, customers going quiet, disputes appearing after the due date and your own team spending too much time repeatedly chasing the same accounts.

It also sets out a practical Day 1 to Day 45 credit control process. This starts with sending a correct invoice to the right people, followed by a courtesy call, securing a payment date in writing, sending an overdue letter and, if necessary, warning that the account will be handed to a third party.

For late invoice disputes, Karl recommends keeping an evidence pack containing the accepted quote or purchase order, agreed terms, proof of delivery or completion, the invoice and a full chase log.

The playbook also covers third-party debt recovery, statutory interest and compensation, escalation options and five habits that can help businesses reduce the risk of future bad debt.

Who is the playbook for?

The guide is particularly relevant to finance directors, financial controllers, managing directors and business owners responsible for overdue commercial invoices.

Taurus Collections works particularly with manufacturers, contractors, recruitment businesses, wholesalers and logistics firms, as well as organisations dealing with customers who have stopped responding, raised a late dispute or repeatedly missed payment dates.