Is your Credit Department unsure of which customers to
contact and in what order to efficiently manage your AR asset? Are they
careening from one crisis to the next? Does it seem to have a high staff level?
An old Marketing maxim is that “half my advertising is wasted, but I don’t know
which half”. Does this apply to your collection efforts?
Learn:
1. The benefits of optimal Collection Prioritization
2. The principles and techniques of implementing an excellent
Collection Prioritization methodology tailored to your firm's unique customers
and capabilities.
At its worst, collections can be a reactive process, focusing efforts on:
(a) receivables in danger
of becoming uncollectible (bad debt),
(b) past due receivables
which have triggered a "hold order" condition.
Optimal Collection Prioritization enables your AR management effort to be
proactive to minimize the occurrence of the two conditions cited above. It will
address at-risk AR earlier in the process, thus minimizing its value. It will
also resolve the vast majority of past due AR conditions that delay/hold
orders, thereby ensuring a continuous supply of products and services to the
majority of your customers. The result: happier customers, smoother order
fulfillment and incrementally increased revenue.
In addition, substantial increases in productivity can be achieved with optimal
Collection Prioritization. World class AR management is defined as top 10
Percentage AR management performance and cost efficiency. Properly focused
collection efforts increase effectiveness and efficiency.
Why Should You Attend
Collection prioritization guides the collection process by
specifying in what order customers are contacted to secure payment of open
receivables (i.e., AR). This applies to both B2B and B2C receivables.
It focuses the scarce collection resources in your
organization to minimize AR delinquency, risk of bad debt loss, and cost of AR
management, while maximizing cash flow from AR.
Objectives of Today’s Discussion:
» To define how an effective collection prioritization methodology
is developed
» To recognize that every organization’s Collection Prioritization
will be different.
Key elements to be discussed are:
Alignment with Your Organization’s Strategy
» Go to Market
» Trade Credit
How to Develop the Right Collection Prioritization for Your Organization
» Know your AR portfolio: dimensions, customer characteristics, etc.
» Define Prioritization Parameters
» Blending Multiple Priorities
Benefits: Effectiveness and Efficiency
An optimal Collection Prioritization Methodology must be carefully tailored to
an individual company. No two companies will have the same Go to Market or
Trade Credit strategies, the same product/service mix, or the exact same
customer base. These differences must be incorporated into the Collection
Prioritization strategy to achieve optimal results.
Objectives of the Presentation
» To define how an effective collection
prioritization methodology is developed
» To recognize that every organization’s Collection Prioritization
will be different.
Areas Covered in the Session
Introduction
Align with Your Organization’s Strategy
» Go to Market
» Trade Credit
How to Develop the Right Collection Prioritization for Your Organization
» Know your AR portfolio: dimensions, customer characteristics, etc.
» Define Prioritization Parameters
» Blending Multiple Priorities
Benefits: Effectiveness and Efficiency
» Case Studies and Conclusion
» Questions
Who Will Benefit
» CFO’s
» Controller
» Treasurers
» Customer Financial Services Managers
» Credit Managers
To Register
(or) for more details please click on this below link:
https://bit.ly/2Yqh4UB
Email:
support@abideedict.com
Toll Free
No:1-844-511-8858
Tel:
+1-913-871-1466