Optimize
cash flow and working capital for your enterprise by applying the
best collection strategy to each customer.
Commercial collections are complicated by the variety of your customers’ needs. Corporations need to be handled differently than Mom and Pop operations. Likewise, growing firms and distressed companies present different sets of challenges than stable enterprises. It also matters whether you are selling a commodity or a custom product.
This topic will help collectors and their supervisors better understand their organization’s collection environment. By being able to recognize the weaknesses and pitfalls in their current collection process they can then take steps to collect more overdue funds faster; and this material will go over those tools such as using third-party collectors and security filings. Cash is King, and collection organizations that underperform put the entire enterprise at risk in today’s competitive marketplace.
This topic contains critical knowledge that every member of a collection team needs to understand in order to apply the best collection strategy to each customer, thereby optimizing cash flow and working capital for the entire enterprise.
Learning Objectives:
- You will be able to describe at least three things you can do today to improve collections.
- You will be able to identify the major pitfalls in your collection process.
- You will be able to discuss three ways collections get derailed by other activities.
- You will be able to explain how to increase recoveries using third-party collection agencies and attorneys.
This Live Webinar Covers These Hot Issues:
Creating Time for Collections
- Understanding Collections Relationship to the Other Elements of the Order-To-Cash Process
- Why Collections Gets Knocked off Track and How to Stop It
- How Type of Business Entity Changes the Game
- How Important Are You to Your Customer?
- Eliminating the Obstacles That Hinder Collection Efficiency
- Monitoring Collection Performance
- Recovering From a Distressed Debtor
- When All Else Fails
- More Tips and Tricks for Enhancing Collection Performance
Credit Information: (Sponsored by Lorman Education Services)
- CPE
- NASBA
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
David Schmidt, Credit Today
- Contributing editor with Credit Today since 2004
- Founded A2 Resources in 1994, a management consultancy focusing on credit, collections and receivables improvement along with small business data intelligence; besides working with corporations and financial services firms, David also serves as the leading industry analyst covering the B2B order-to-cash automation marketplace
- Prior to A2 Resources he managed credit departments in corporate manufacturing and distribution environments for 16 years; he is also an alumnus of Dun & Bradstreet
- Has conducted workshops across the USA and Canada as well as online on a variety of credit and collections improvement and receivables automation topics
- Co-author of the seminal text on collection automation, "Power Collecting: Automation for Effective Asset Management," 1998, John Wiley & Sons, NYC
- Author of hundreds of articles for a variety of publications including Business Finance, Collections Advisor, Business Credit, the Credit & Financial Management Review, the Credit and Collections Manager’s Letter, and of course Credit Today
- Has worked with the Credit Research Foundation, Federation of Credit & Financial Professionals, Institute of Financial Management, and the NACM and many of its affiliates
- Can be contacted at 215-260-3688 or dave.schmidt@a2resources.com
(Not available outside the US)