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Strategic Collections: Process Efficiency and Tactics to Drive Superior AR Performance

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 different sets of challenges than stable enterprises. It also matters whether you are selling a commodity or a custom product, as well as the status of your production capacity. This topic will help you better understand your organization's collection environment. By being able to recognize the weaknesses and pitfalls in your current collection process, you can then take steps to collect more overdue funds faster. Cash is king, and underperforming collection organizations put the entire enterprise at risk in today's competitive marketplace.

67 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 36 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

Building an Efficient Collection Process

Eliminating the Obstacles That Hinder Collection Efficiency

Monitoring Collection Performance

Monitoring Collector Workloads

Why Collections Get Knocked off Track and How to Stop It

More Tips for Enhancing Collection Performance

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Why Lorman?

Over 36 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 Course

This course was last revised on June 26, 2023.

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

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

MP3 Download

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

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Why Lorman?

Over 36 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

Ferguson Calder LLC, dba A2 Resources

  • Editor of Credit Today since 2004
  • 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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Over 36 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: 410776
Published 2023
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