Learn who to contact and what to say in the debt collection process.
Cash is King, and in today's competitive marketplace, underperforming collectors put their entire enterprise at risk. Too often, collecting is not given the priority it deserves. Without a commitment to keeping past due accounts receivable (AR) in check, cash flow suffers. An ad hoc approach to collections is not only unacceptable but a sure way to exacerbate any problems lurking in your AR. To be successful in collecting commercial receivables, you need to put in the necessary time and follow proven best practices. You not only need to know when it is best to call and when an email will suffice, but you also need to be clear, concise, and comprehensive to get a message across to past-due customers that will convince them to pay. Avoiding interruptions, prioritizing your work, asking the right questions, and countering customer excuses are all part of the formula for success. Being a bill collector may not be glamorous, but it is a necessary function that needs to be done well.
Agenda
Faculty
David Schmidt
Ferguson Calder LLC, dba A2 Resources
- Managing Director of A2 Resources
- 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 North America 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 [email protected] or 215-260-3688
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