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Managing during the credit crunch: five best practices for effective credit and collections management.(selected topic)
Companies all over the globe have been seeking alternatives to borrowing and at the same time are looking to improve their cash collection practices. While challenging, these goals can be met by leveraging best practices and automated order-to-cash solutions. By automating workflows around credit and collections processing and management, a company is empowered to unlock hidden cash, enhance compliance management and improve customer service with greater response time. Furthermore, through combining collections efforts with a risk-based strategy, a company can see great benefits such as increased control and lower days sales outstanding (DSO).
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Source: HighBeam Research, Managing during the credit crunch: five best practices for effective...