Total Cost to Manage and Process Collections

Published On:
February 17, 2020
Authored By:
Member Only Content:

Organizations must always be cognizant of the time and effort spent to process collections and mindful of valued customer relationships. Smart companies take a strategic approach to the collections process by prioritizing and stratifying past-due receivables, setting tolerance limits, establishing strong policies for credit and collections, and negotiating with customers where appropriate.

This article discusses common pitfalls of the process manage and process collections per $1,000 revenue,” as reported in APQC’s Open Standards Benchmarking® in Customer Credit and Invoicing.