October 12, 2015

Pushing for Responsive Refund Management

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The sales may rise tomorrow and fall down the next month. A client will close the deal with a nod and then revoke it later. These kinds of situations are a form of “failure”, and it rather breaks your heart to see these things happen in your company. The graph of activities in the business world is generally filled with continuously fluctuating lines, which is natural and must be dealt with the right strategies. It is your responsibility to fight the gravity and remain stable, if at the moment it is hard to rise up the graph.

Yet, there are times that things can go beyond our control, and all you have to do is to embrace it with acceptance. Moreover, acceptance means giving the necessary and appropriate actions to what happened.

Imagine that you have a computer who have confirmed his subscription, and wanted to cut it off after a few weeks before he reached the billing date. The escalation was thorough but did not worked the way you wanted it to be, leaving the next step, and that is to process his documents and informed him of all the details with accuracy and validity.

Since the customer didn’t reach his billing date by calling off his subscriptions, he would naturally expect returns. This is when the Refund Management enters the business, it’s some kind of giving clearances to students who had graduated.

Refund Management does not only conduct a proper ‘clearance’ to your customers, it shows transparency. Transparency is important to the image of the company as it means that you have an orderly process and unblemished service. Whether you can see it or not, it adds to your credibility and good reputation.

Without well-structured processes, Refund Management would work as above. Now, what are the things to consider in order to provide a convenient Refund Management System?

First is having every course of transactions documented. All the personal information, the scope of the activities, the dates, the amount, and even the remarks filed up must be kept for easy processing.

Second is the presentation of return policy and its discussion. This is to hold an accountable stand that shields you from complaints because of probably, their indifference, misconceptions, or confusions. Actually, this step should happen before any deal is closed.

This is finishing the duties without delays. Who would like delays? It frustrates customers, and through word of mouth, this could lead to a bad reputation. Remember that, a responsive company is always commendable.


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