Remove Accounts Receivable (AR) Remove Collector Remove Default
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How Are Your Customers Doing?

Your Virtual Credit Manager

The volume and quality of their collection effort was adequate, but not being able to hold the orders of past due customers deprived the collectors of a very valuable collection tool. To receive new posts and support my work, please subscribe for just $5 per month ($49 yearly). The overriding goal was to maximize sales volume.

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Are Your Collection Efforts Myopic?

Your Virtual Credit Manager

A high degree of transactional transparency across the entire Order to Cash Process (O2C), coupled with 360-degree visibility of customers and their life-cycles, is necessary to optimize accounts receivable (AR) performance. Too often, customer and AR information is kept in an assortment of data silos. only benefits.

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Business Customer Personas: A Collectors Guide

Your Virtual Credit Manager

No two are alike, but they do tend to fall into some common groupings. Identifying the groupings within your customer accounts receivable (AR) portfolio enables you to deal with them all more effectively and efficiently. Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts.

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Sales Commissions Impact the Collection Process

Your Virtual Credit Manager

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. Again, you need to also keep in mind the impact from putting other tasks on a back burner. it just might help them pay you sooner!

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Equip Your Collection Agency for Success

Your Virtual Credit Manager

In fact, most SMBs should look into using Collection Agencies to not only maximize the recovery of Accounts Receivable (AR) at high risk of never being collected, but to collect all old receivables. Historically, the probability of default for a pool of receivables tends to increase as the receivables age.

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Don't Leave Converting Sales into Cash to Chance

Your Virtual Credit Manager

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. it just might help them pay you sooner!

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Should You Outsource AR Management?

Your Virtual Credit Manager

So, how can a small business acquire high level functional expertise with its “Jack of all trades” workforce, especially in regard to managing the Accounts Receivable (AR) asset? One way is to outsource the function.

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