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Tips and Tricks for B2B Debt Collection

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 a different set of challenges than stable enterprises. It also matters whether you are selling a commodity or a customer product. This topic will help collectors and their supervisors better understand their 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 we 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 material contains critical knowledge that collection supervisors and their staffs need to know in order to apply the best collection strategy to each customer, thereby optimizing cash flow and working capital for the entire enterprise.

Runtime: 72 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

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

Know Your Opposition

  • How Type of Business Entity Changes the Game

- Corporations

- Partnerships and LLCs

- Proprietors

  • How Important Are You to Your Customer?

- What's Your Position in Your Customer's Supply Chain?

- The Competitive Market

Building an Efficient Collection Process

  • Eliminating the Obstacles That Hinder Collection Efficiency
  • Monitoring Collection Performance
  • Recovering From a Distressed Debtor

- Limiting Exposure

- What If They Go Bankrupt?

- What If They Simply Fold?

  • When All Else Fails

- Working With a Collection Agency

- Filing a Lawsuit

  • More Tips and Tricks for Enhancing Collection Performance

- From an Organizational Perspective

- At the Personal Level

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on June 27, 2017.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
  • This course is acceptable for 1.0 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 1.0
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.0 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David Schmidt

David Schmidt

Credit Today

  • Contributing Editor with Credit Today since 2004
  • Founded A2 Resources, a management consultancy focusing on credit, collections and receivables improvement, in 1994
  • Besides providing small, medium, and large corporations with consulting services, also served as the leading industry analyst covering the B2B order-to-cash automation marketplace
  • Prior to A2 Resources managed credit departments in corporate manufacturing and distribution environments for 16 years; 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-wrote the seminal text on collection automation
  • Wrote hundreds of articles for a variety of publications including Business Finance, Collections Advisor, Business Credit, the Credit & Financial Management Review, the Credit and Collections Managerís Letter, and of course Credit Today
  • Past member of the Credit Research Foundation, NACM and Federation of Credit & Financial Professionals
  • Can be contacted at 215-260-3688 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400357
Published 2017
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