Description
Optimize cash flow and working capital for your enterprise by applying the best collection strategy to each customer.
Commercial collections are complicated by the variety of your customers needs. Corporations need to be handled differently than momandpop operations. Likewise, growing firms and distressed companies present different sets of challenges than stable enterprises. It also matters whether you are selling a commodity or a custom product, as well as the status of your production capacity.
This topic will help you better understand your organizations collection environment. By being able to recognize the weaknesses and pitfalls in your current collection process, you can then take steps to collect more overdue funds faster. Cash is king, and underperforming collection organizations put the entire enterprise at risk in todays competitive marketplace.
Date: 2023-06-26 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to discuss three ways collections get derailed by other activities.
* You will be able to identify the major pitfalls in your collection process.
* You will be able to explain how to increase recoveries using thirdparty collection agencies and attorneys.
* You will be able to describe at least three things you can do today to improve collections.