| Are there battles taking place between your sales and accounting departments? | ||
| Do your salespeople understand credit risk? | ||
| Does your accounting department understand the need for flexibility? | ||
| Are you constantly getting involved with daily credit issues? |
Just ask anyone who handles your accounts receivables – sales may be wonderful, but collections make the world go around. There are ways to teach your employees to recognize dilemmas and find solutions when dealing with credit issues.
In our experience, educating sales and accounting personnel reduces time wasted on daily battles, and yields real benefits in reduction of risk, without giving up opportunities for increased sales. We have been successful in improving accounts receivable days outstanding by more than forty percent, and substantially reducing annual write-offs of uncollectible receivables – all while sales increased dramatically.