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During the boom times of the 1990s, if you could make the sale, you could probably count on collecting on the deal as well. With the recessionary climate that accompanied the new millennium, and the resulting return to reality, risk management in the form of credit and collections has regained some measure of its past importance. Once again, Days Sales Outstanding (DSO) is a top priority followed by the application of a number of technologies that benefit receivables management.
Today, credit departments are being challenged as never before by upper management. Most critically, a sizable majority are being asked to improve performance with smaller staffs, or to ...