i Have always dreaded this question for years . Your boss come's in to your office and says ."you have to cut your budget by 30% " this is your contribution to be business. Already Credit and collection is always seen as a cost center not a profit center for the business.
Luckily for me this has happen to me only once. The reason why i believe is that i have always taken the bull by the horn and work very hard to change this perception. Yes there is the classic argument that we help to maintai...
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The reality is Collection agency relationship needs to be manage like all your customers and suppliers. There are multiple reasons why you need to take good care of your relationship.
1) If you get into a problem situation and you need there assistance. Such as a year end cash push or a big account that you need to find out quickly how it's going to turn out.
Having this relationship helps you get thinks done more efficiently.
2) Developing a good relationship let's you get inside information so...
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One of the worst situation I have ever had the unfortunate pleasure of managing in my professional life is terminating a contract in which a collection agency was granted the right to start collecting clients as early as 90 days.  Although 90 days might have been seen as a reasonable delay . However in the industry i was in 90 days was just a little over the norm of 80 days.The collection agency had sold the idea to my predecessor ,which shall remain nameless, that if they start there work ea...
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This blog is about exchanging on recent topics within the Accounts receivable sphere .
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