Employees with low- to mid-level salaries have been struggling for years to shoulder the increasing cost of carrying health insurance. In response, more finance chiefs are considering a system that bases workers’ premium costs on their take-home pay.
Most managers just assume their seasoned A/R staffers can distinguish between what’s true and what’s simply a myth. But you’d be surprised how many “collections myths” are still regarded as pure fact.
Many businesses are using social networking sites as a tool to get problem customers to pay up. But you’ll want your A/R staffers to tread carefully in this area.
For Accounts Payable, moving away from paper still tops the to-do list. But you may be surprised at some of your peers other goals for the near future.
If your Collections department doesn’t have the time or resources to send out those gentle reminders to late payers, you may have success with these tactics.