Accounts Receivable Management

Proper accounts receivable management is ½ science and ½ artwork. Customers must be contacted on a consistent basis with exact calendar follow-up to ensure that your invoices make it to the top of the pile. To do this requires a proper CRM (Customer Relationship Management) system or robust accounting package with a calendar/time function.

 

This is only ½ the equation

The “artwork” portion happens when your accounts receivable clerk calls your customer. How your staff interacts with your customer – how your customers perceives the call – what extraneous information your staff does (or doesn’t) collect, all combines to give you an advantage or disadvantage in collecting your money. It’s been our experience that this function is usually delegated to credit assistants or accounts payable staff that dislike the job. It’s like handing over your entire investment portfolio to someone who is either just learning or would rather be doing something else.

Our parent company, Credit Process Advisors, provides all forms of accounts receivable management – from onsite client locations, to fully remote accounts receivable outsourcing.

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