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If a company executive is not the primary collector, there is nothing wrong with them giving it a try. A large percentage of pastdueinvoices are caused by up-stream problems in the order-to-cash process. A large percentage of pastdueinvoices are caused by up-stream problems in the order-to-cash process.
Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. The bottom line was a 13 percent reduction in Days Sales Outstanding (DSO) over a 6 month period in conjunction with invoice accuracy rising above 90 percent.
Share How to Clean Up Your AR Ledger Launch a collection program to collect all pastdueinvoices at least 15 days late. Match as many unapplied payments and unapplied credit memos to open invoices, deductions, and debit memos as possible. This included a 100 percent increase in pastdue collected.
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. Automation of the routine emails to the majority of your customers can be achieved easily in a number of ways.
A ssign Collections to an Existing Employee : In this case you need to consider if the person you choose has the time and talent to be an effective collector. The bottom line was a 13 percent reduction in DSO over a 6 month period in conjunction with invoice accuracy rising above 90 percent.
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