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What follows is a summary of the three most read article for the 12 months ending in October 2024, and links to the originals. For more detail on this subject, here’s the link to the original article. However, access to the original articles via the links we’ve embedded is only for our paid subscribers.
If a company executive is not the primary collector, there is nothing wrong with them giving it a try. A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process. Collectors are constantly cleaning up other peoples’ litter. it just might help them pay you sooner!
Photo by DESIGNECOLOGIST on Unsplash Editor’s Note: To start off the New Year, we’re bringing back three of the most popular YVCM articles from 2023. We’ve condensed the articles to save you time, but have also provided links to the originals should you want to take a deeper dive.
Despite improvements in order-to-cash (O2C) processing, the explosion in digital payment mechanisms creates new complications. Get Help from the Pros When Appropriate : When debts drag on despite your best efforts, don’t hesitate to enlist professional debt collectors or a creditor’s rights attorney.
Imagine that the order-to-cash (O2C) process is a parade. Leading the charge is the sales and customer service teams that bring in the orders. Quality control issues that slip through production and or arise during distribution are not usually discovered until after the invoice is billed — most likely by the collector.
Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. There is nothing wrong with that.
Editors Note: Normally, the rest of this article would be hidden behind a paywall for our paid subscribers’ exclusive access. As a Christmas gift to our free subscribers, we are making this entire article available to everbody. If you require multiple collectors, you still only need to deal with your account manager.
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