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Effective collections can also reduce baddebt 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 pastdueinvoices — those not paid within established terms.
It affects the level of baddebt loss (uncollected Accounts Receivables) you suffer. Its impact on revenue: it can result in higher sales (and gross profit), or lower sales and gross profit depending on how much risk your Credit Policy tolerates and how well it is executed. Insurers want to be paid for the risk they bear.
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