12 things you should see and hear on collection calls
They’re some of the most important phone calls your Finance staffers make in a day – the ones to get your money out of customers’ hands and into your bank account.
Credit and Collections
2 myths your A/R workers still believe … but shouldn't
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.
2 solid ways to better manage cash flow
In a perfect world, A/R would always be busy receiving payments from your customers and there’d be no lag between making a sale and getting the payment. But, unfortunately, that’s not the case.
2 steps this company used to get a 72% payment rate
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.
2 uncommon ways to make 'em pay up fast
Many customers are adopting a new motto these days: "What’s mine is mine; what’s yours is mine." Put a stop to that pronto.
3 areas training's needed now more than ever
Training’s important to build skills, improve retention and show your staffers you think they’re valuable. It also takes a big bite out of the budget.
3 essential moves for successful collection calls
Getting cash from past-due customers has never been such a struggle.
3 phrases that bring in more cash
Many finance pros will tell you “Not much changes in Collections.” And that makes your job that much tougher.
3 ways to get your firm out of a cash crunch
A huge customer falls behind, busy season runs slow, inventory’s mismanaged — there’s no shortage of factors that can result in an unexpected cash-flow crunch.
4 ways Finance can get more from final demand letters
Granted, sending out a final demand letter is something no Collections department wants to resort to — and some collectors even think of the tactic as a formality or a Hail Mary. But these letters can be effective.
4 ways to handle people that just won't pay on time
Even if your company is one of the lucky ones that continues to thrive, chances are many of your customers aren’t in the same boat. Here’s help for dealing with those perennial late payers.
9 signs your customer’s going under
Staying extra vigilant for these signs that a customer is struggling could help avert disaster before it’s too late.
A key Finance metric: When to turn over over past-due debts to a third party
Here’s a question finance chiefs often struggle with: Has come to turn over a dragging customer to a third party collector?
Accepting credit cards? 4 ways to keep fees low, collections high
A majority of businesses are now accepting credit card payments from companies — but how often?
Better benchmarking: 16 metrics Finance needs now
Finance deals in numbers all day. But how often are you generating numbers to find out how efficient your finance team is?
Bounty hunters for debtors: 4 things your firm should look for in a skip tracer
Having trouble recovering past-due amounts from a troublesome customer (or customers)? Before you get Collections to call in the aid of an attorney, try this tactic.
BLUEPRINTS
Get up to date with our Blueprints.
Payroll
Accounts Payable
Payroll
Payroll
Employment Law
