Survey reveals a high-degree of preventable disputes.(HEADLINE)

A survey of over 100 financial, collections and receivables executives at mid- to large-sized companies in varying industries discovered that many organizations still take a reactive approach to collections and receivables management. Specific findings include:

* 90 percent of disputes are settled in the customer's favor, indicating a high-degree of preventable disputes.

* On average disputes take four weeks to resolve once they've been identified.

* 89.5 percent of companies focus on large accounts or large past due balances, but 85 percent of the companies spend less than 50 percent of their time contacting customers.

In addition, the survey found that 60 percent of companies use historical-based measurements such as past due percentages, DSO and aging quality as the primary measures of success. These measures, while important, only quantify end-results and don't explain how frontline managers contribute to achieving the organization's collection and receivable goals. Measures such as number of touch points and dispute resolution cycle times are better suited for this audience, and can act as early warning signs to help organizations ensure that they will reach their overall collections management goals.

Additional survey findings discovered that while ...