Accounts Receivable Collections – Improving Your Results!
Accounts receivable collections always seem to be a problem with most of my clients. An excellent procedure to improve accounts receivables collections is to have your collection employees call the clients earlier. Each collector should call the customers five days before the invoices are due! The collectors should verify that there are not any problems with any invoices that would interrupt payment on the due date. By being proactive in resolving any issues before the invoice due date, always improves the cash flow for the company.
Focus on improving your accounts receivable collections, the money pays the bills and covers the payroll!
Your A/R collectors should build a relationship with the customers’ accounts payable department employees. By having a good business relationship with the customers’ A/P employees makes it easier to talk about and resolve problems. Good collectors figure out different ways to get all invoices paid on time to maximize the cash flow for the company.
My name is Robert Curry, and I am an Author, CEO Coach, Keynote Speaker, and Turnaround Specialist. Over the past 20 years, I have worked with more than 70 companies taking their businesses from Loses to Profits.
Please click on the links below to read my other articles about business like this one – Accounts Receivable Collections – Improving Your Results!
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Recently, I have published two books about turnarounds: “From Red to Black – A Business Turnaround” and “The Turnaround.” Both books are true stories about turnarounds of real companies that I have turned around during my career. In both books, I have shared all my Profit Improvement Recommendations (“PIR’s”). PIR’s helped to grow sales, reduce expenses, improve cash flow, and most importantly, strengthen the management teams.
If this article Accounts Receivable Collections – Improving Your Results! helped you, a family member or business associate, please email me at bob@ceorsc.com and share the story with me!
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