Use invoicing software or web-based billing services for a professional look

Crack collections require a buttoned-down invoicing system that's now easier than ever thanks to invoicing software and online invoicing services for small business owners.

I recommend: Two standout services that help you create, send and manage invoices easily online are FreshBooks and Bill.com.  MyInvoices & Estimates is a low-cost software package from Avanquest that helps you create professional-looking estimates, invoices and statements from your own PCs. QuickBooks online also has invoicing features.

Outsource for credit and collection services

D&B Small Business Solutions delivers a variety of debt collection services, including demand letters.

I recommend: D&B's debt collection services can help you collect money owed to you without alienating customers. Or hire your own outside collections department through an affiliate of the National Association of Credit Management. Search by city and state for a provider in your area.

Make your demand letter a grabber

Get online help writing a dynamic dunning letter that will produce quick results.

I recommend: Business Letter Templates can help you write a good collections letter. WriteExpress has excellent tips and letter templates as well. The DunsDemand Letter is an effective "wake up call" for slow payers and will result in a "Placed for Collection" notice in the debtor's D&B business credit file.

Plug into business credit reports

Checking business credit can save you time, money and help you make a more sound and informed credit decision.

I recommend: The National Association of Credit Management has affiliates across the country that can provide a wide range of credit reports on businesses large and small as well as business owners and foreign firms. Find a supplier in your area at the NACM site.

Summon the collection cavalry while there's still time

Each passing month dramatically reduces your chances of getting paid. Consider bringing in a collection agency after 90 days.

I recommend: ACA International can help you find a collection agency, attorney or other professional in your area. Commercial Collection Agency Association members are the only group of agencies certified by the Commercial Law League of America.