"Don't wait for an invoice to become past due," advises one West-Coast credit veteran. "Call just before the due date. The call should be a forethought, not an afterthought. If you wait 30 days after a bill is due, your customer may ask for a copy of the invoice or proof of delivery. You're just playing catch-up."

What's the reaction to this forethought? "Most customers don't mind the call at all," he says. "The key is to take a very friendly approach: We're scheduled for payment, and I want to make sure you have all you need from us.

"Sometimes customers need information. We email it immediately. If they request proof of delivery, we ask the trucking company to send it to us and we turn it right around to the customers.

"All this is done while invoices are still current on the books, and it gives us, in essence, a 30-day jump on these situations. It works 90% of the time and keeps senior management very happy."

"I keep information in the computer that tells me what other companies are shipping to a customer. I stay in touch with those other companies," he continues. "I send my business card and tell them to give me a call whenever they have a question.

"If I'm hesitant about shipping an account, I know whom to call. I put the gist of the ensuing conversation in the file. Gradually, I have built a great information base that has helped me many times over."

"With outside information and your own experience, you are soon able to anticipate paying habits. Some companies just don't pay on time. It's part of their cash management practices. That might be all right over time, but you still must keep a close watch for any deviation.

"Also, it's important to keep in touch with companies that change their financial structure, perhaps leveraging too heavily or even going in to a leveraged buyout. This could mean trouble down the road, and such situations bear watching."