Managing the Collection Process, or "Dialing for Dollars".(Brief Article)

Publication: Business Credit

Publication Date: 01-MAY-01

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COPYRIGHT 2001 National Association of Credit Management

Do you ever wonder why past due receivables keep creeping up? Are you concerned that the receivables keep aging thus your percent payment performance goals continue to be below target? Or putting it more openly--why is it that the competition consistently manages to report record on-time payment performance and low bad debt losses? Working capital initiatives and the review of the collection process, tools and systems rarely yield the expected results. What these initiatives and reviews often fail to recognize is the paramount role of a collection group.

Managing accounts receivable in a company is one of the most challenging responsibilities assigned to a group. Depending on the size of the organization, it would not be surprising to find out that accounts receivable is one of the largest, if not the largest single component of capital employed. Why then don't companies place greater emphasis...

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