A few minutes of prevention can protect your business.
With remote work impacting where and how payments are processed, COVID-19 has had a profound effect on accounting functions. We have seen an uptick in clients shut down for nonpayment due to address changes by providers. For example:
If you previously sent your Verizon payments to P.O. Box 16810 Newark, NJ 07101-6810… you likely should now send to P.O. Box 489 Newark, NJ 07101-0489.
These changes are often communicated via billing inserts that are easy to miss. In our current environment, communications services are critical. While we are able to troubleshoot these and pursue credits for disconnect charges for clients, the business interruption can last for hours. Set some time with your accounts payable team to do an audit of remittance addresses – a few minutes of prevention could spare you from hours of lost business.
If you’d like a team to help you troubleshoot and resolve these issues, ARG can help! You can learn more by contacting info@myarg.com.
