Here is your NoSpin Debunker for November 10, 2003


The Flip Side of Collecting: Paying in Full and On Time

News Flash: One of the best ways to get good service from your vendors is to pay them in full and on time.

Do you ever have problems collecting for the products and services that you've provided? How to effectively collect is a topic for another Debunker--this one is about the flip side of that equation. Perhaps THE basic tenet of commerce is paying for products and services received, on mutually agreeable (and fair) terms. Is this basic rule, though, going the way of the dinosaur--evidence, perhaps even more insidious than the well publicized corporate accounting, compensation, and mutual fund trading scandals--regarding the deterioration of business practices and ethics? Everyone in the business world food chain is buyer AND a seller, but that concept seems to be too often forgotten.

Actually You Are The AP Department

You may be a a marketer, or sales person, or CEO or have another job in your company and think that you are not responsible for the bills your company is supposed to pay. That's up to AP and Finance. Wrong. Especially if you did the deal to purchase various products or services, it's your responsibility to make sure that you and your company keeps your payment end of the bargain. End of story. You can't hide behind the corporate thing and say you don't have responsibility because you do. Besides, it's very good business to pay your bills and pay them on time (or even ahead of time) because you will receive better services from your vendors.

Left Holding the Bag

Overall, I've been pretty fortunate the last couple years. Most of my clients have upheld their end of the basic commerce bargain. An unquestionably I do provide an even higher level of service to those who pay me in full and on time. But a couple times I've been left holding the bag--and been paid very late several times--and nothing galls me more.

I'm also outraged by the gross hypocrisy of some business types who have the incredibly bad taste to wear on their sleeve that they are Christians (via their trendy WWJD bracelets, their elder/deacon status, their big church contributions, etc) but day after day act completely contrary to what God (regardless of your denomination or religion) edicts is right. Recently, a CEO, who always sports his WWJD (What Would Jesus Do?) jewelry, ran up a $100,000 tab with a quality business I'm familiar with. This executive was aware that his company didn't readily have the money to pay before receiving the services-and then said, oops, he couldn't/wouldn't pay. People like these rationalize that it's just business, and conveniently dissociate themselves, personally--forgetting that work is an important part of life. (PS. I think that WWJD is an admirable slogan to attempt to live by, but apparently this guy needed a bracelet on both wrists, both ankles, and probably stamped on his forehead--to remind him how to act.)

Remember:
  • All actions have consequences sooner or later.
  • What goes around comes around.
  • You are responsible for your behavior and can't hide behind an inhuman corporation no matter how big or small it is.

So pay your bills and get them paid them on time. You'll do what's right, set a good example and get better service from your vendors. Don't do business with people and companies that don't fulfill this most basic tenet of commerce. Go elsewhere. As a vendor yourself, be wary of getting fleeced-and if you do--spread the word. But even if others you know continue to behave poorly and don't pay their bills in full and on time, have faith that there will be an accounting.

Have a good week!

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