2015 has arrived, but before we get too far into the new year let’s take a moment and look back on some of our most popular content from 2014. We have published hundreds of blogs over the past year about credit and collection management and we know you’re busy, so we compiled our most popular posts of the past year so you can start 2015 out with all the tips, tricks, tools, and best practices you need to improve your overall credit and collection management performance.
#1: 6 Questions Your Credit and Collection Policy Must Answer
A credit collections policy is a guide offering an organized and repeatable philosophy on the rules, regulations and procedures to manage daily operations. The goal for a Credit Plan is to clearly define these elements so that sales and collections employees conform to documented steps and procedures designed to optimize your resources, reduce credit risk, and improve overall cash flow. But what is the goal of a business credit collection policy as it pertains to your company? How do you make sure it is effective? Your credit and collections policy can be as in depth or as brief as you would like but this blog walks you through the topics and questions that even the most basic credit and collection policy must answer. Read the full article here.
#2: Critical Metrics for Measuring Credit and Collection Performance
Monitoring your accounts receivable performance is the first step in improving the way you manage it; after all, “If you don’t know where you are going, you will probably end up somewhere else.” (Laurence J. Peter ). In this blog we’ve compiled and explained, in plain English, some of the most important metrics you should consider when measuring accounts receivable performance and how to interpret them to better gauge the health of your A/R and overall cash flow. Read the full article here.
#3: How to Calculate Credit Limits for Customers
You’ve weighed the pros and cons of extending credit to customers, have deemed the customer in question to be a good credit risk, and now you need to figure out how much credit to offer. This is not something to gamble on, setting appropriate credit limits is important to ensure you are giving the customer what they need, but also protecting your organization against financial instability. This blog shares 3 strategies to calculate credit limits for customers to help you reap the benefits of credit sales while mitigating the risks. Read the full article here.
#4: Accounts Receivable Report: Most Popular Software for A/R Management among SMBs
This industry study investigates how B2B’s in the mid-market manage accounts receivable and why they’re losing thousands each year due to ineffective collections strategies. These are the results of a survey conducted by e2b teknologies in Q1 2014 in which small and medium sized B2B companies were polled regarding their current strategy for managing accounts receivable. Download this white paper to see the results and understand what our shocking findings mean for the B2B sector. Read the full article here.
#5: Quickly Collect Past due Accounts Receivable with Exceptional Collection Calls
Let’s be honest, nobody likes to make collection calls, so it makes sense that you want to make sure you are getting the most out of the conversation. Whether you are new to accounts receivable or if you are a veteran of the trade, this blog shares 6 tips to make your collection calls more effective than ever so you can make the most of each conversation; you’ll be surprised at how much faster you collect past due accounts receivable. Read the blog here.
We hope the above blogs can help you reach your credit and collection goals in 2015- make it the best year yet!
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