Effectively Collecting Receivables Is a Time Management Challenge

From The Virtual Credit Manager

Effective collections is the single most important factor for achieving reliable cash inflows. Customer payments for products and services provide the lifeblood of most companies, funding new inventory as well as investments in both people and process. Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function.


Simply defined, collections is the process of contacting customers to secure payment for your invoices. For the most part collections deals with past due invoices — those not paid within established terms. The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. The task is twofold: To access the full article please click here