Remove Bulk Transfer Remove Deductions Remove Third Party Collections
article thumbnail

What Triggers Your Collection Efforts?

Your Virtual Credit Manager

When an unresponsive customer reaches 90 to 120 days past due, you should consider sending a final demand letter and then turning the account over to a third-party collection agency. Collection Activity: Request detailed explanations for invoice disputes and require supporting documentation to substantiate the claims.

article thumbnail

Twenty Action Priorities for Credit & Collections Managers

Trade Credit & Liquidity Management

Enhance Your Collection Capabilities Take the lead on automating the collections process Implement collection strategies based on materiality and risk Identify the root causes of collection delays Resolve aged receivable credit balances before they become an escheatment issue.