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          Finally! The trick to securing greater T&E compliance
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Importance of Collections is up, but are workers getting their due?

Jared Bilski
by Jared Bilski
January 29, 2010
  • Accounting
  • Accounts Payable
1 minute read
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From Accounting to Accounts Payable, more companies are showing gratitude for traditionally underappreciated Finance positions. And Credit and Collections is no exception.

According to a recent survey by the Credit Research Foundation, 45% of credit managers believe their employers now feel that credit management is more important and more appreciated.

With a majority of firms wrestling with late-paying customers, it’s hard to argue with the importance of Collections today. However, even though many credit managers feel that their companies understand the importance of their work, over a third (35%) still feel underappreciated.

Other findings from the survey:

  • Only 3% of credit managers feel that credit management is less important and underappreciated, and
  • 17% haven’t noticed much change in credit management.

To get the most out of your Collections department, have your credit manager create a priority list of the department’s duties to be sure you’re both on the same page. And be sure to show appreciation for the department’s hard work.

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CFO Daily News, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day’s headlines, CFO Daily News delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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