Hiring the services of a collection agency is usually avoided and is not a natural process for any business firm. It is after much thought and contemplation that firms choose to hire collection agencies. Little do they realize that costs spent on an agency is far lesser than the burden and tension they carry from… Continue reading Why Collection Agency?
Practices adopted for Accounts Receivable Credit worthiness of customers to be investigated to assess the financial health of the company to decipher payment terms and to ensure payment returns. Credit management to find out which payment option works so payments can be done on time. strict time frames to be followed and adhered to. Theoretically… Continue reading Tools For Collection – Collection Agency
The success of a company depends on the cash flows and effective rotation of the funds, incomes and outflows reflecting on a healthy balance sheet. It is vital for business firms however big or small to - Monitor the movements of currency Identify where investments are parked, Quality and efficiency of employees, Marketing strategies, Customer… Continue reading Financial Bleeding – Debt Recovery
Taking Steps to Deal with Account Receivables • E-mailing invoices and hand delivering if possible or a registered post. It ensures you have proof of sending. • Offering a variety of payment methods – by offering online payment portals that accept a variety of payment options via several channels, companies stand the best chance of… Continue reading Steps for Debt collection
Account Receivables Management refers to the set of policies, procedures, and practices employed by a company with respect to managing sales offered on credit. It encompasses the evaluation of client credit worthiness and risk, establishing sales terms and credit policies, and designing an appropriate receivables collection process. Accounts receivables are found on the balance sheet… Continue reading Debt recovery for small business in Chennai