"You're 120 days overdue on your payment." No one looks forward to getting a call, email, or text about outstanding debt. It can be uncomfortable, especially when businesses are expecting payment immediately. But some forward-thinking companies are finding that they can turn what is routinely an unwanted interaction into an opportunity to create long-term customer loyalty and higher revenues.
What these businesses are now recognizing is that the vast majority of customers who are delinquent are dealing with the....