Blog Archives

Sending Accounts to Collections

It’s a good idea to have a collection policy in place so that when an account should go to collections you are prepared. If there is a firm date for writing the account off (whether it be 60 days, 90

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Managing Your Receivables

Cash flow is crucial for most companies of any type and size.  We’ve all have heard the saying, “cash is king”.   It’s true, for without cash flow, we would be unable to pay employees, other overhead expenses and acquire inventory

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Outsourcing Debt Does Not Mean Losing Control

Bad debt can be crippling for a lot of businesses in today’s market.  Chasing debts can be difficult and sometimes an impossible job for any credit department. And taking a proactive credit management approach will see you avoid many problems

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Collector’s Hats

“Stay committed to your decisions, but stay flexible in your approach.”  ~Tom Robbins   For many collectors, success is defined simply as discovering a conflict and resolving their costumer’s issues.  Yet in today’s complex and volatile markets, overcoming objections is

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Have A Plan

If you don’t make things happen then things will happen to you. ~ Robert Collier Every business has a recovery policy. If you don’t create one yourself, your customers will do it for you. With this in mind, it’s important

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Debt Recovery Policy

It’s staggering to think that a mere one-third of businesses have a debt recovery policy in place.  If they don’t create a recovery process, their customers will. For a business, collecting money can present major obstacles. The magnitude, persistence and

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Importance of Collection Departments

Granted, sales are vital to any business, but if you make a sale and don’t get paid for it, did you really sell anything? An important fact that often gets overlooked is that a sale is only a sale once

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Signs of Financial Trouble

In our experience businesses can expect to have credit losses of one to six percent without serious problems, a number that varies depending on markup and other factors. However, it is important to keep a careful watch on this figure

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Pareto Principle in Collections

We often get asked by our clients looking for our assistance in structuring their collection departments the following, “Is it better to assign certain accounts to an individual recovery specialists or leave them unassigned and have them worked as a

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Realistic Judgments

One can compare cash recovery to selling. A key point of the comparison is the need to qualify the prospective customer.  Just as a salesperson cannot justify spending equal time with all prospects, a recovery specialist cannot spend identical amounts

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