Improving your performance

Understanding Your Opportunity

lightbulb_outline

Establishing Your Process

check

Maximizing Your Payments

attach_money

Improving Your Performance

insert_chart

You’ve heard the saying, “You can’t manage what you don’t measure.”  It’s true. Unless you are tracking your costs or calculating your ratios, you don’t know if your organization’s performance is getting better or worse. You can’t manage your process to improve your collection rates.

So where do you start?

Here are a few important numbers you should be able to calculate and track:

  You can use the following formula:     

(Accounts receivable / Total credit sales) x Number of days = Days Sales Outstanding

 Compare it to the healthy A/R ranges listed below.

If you see room to improve your collection results, give us a call at 913-338-4790, x205.

COLLECTPlus can help remove the burden of collections. Our four-phase, automated billing and collection system includes an integrated payment portal and call center. Using COLLECTPlus to capture your remaining debt gives you confidence that you are providing your clients every opportunity to pay.

Let technology help you make the profits you need and deserve!

 

Source: BSM Consulting’s Maureen Waddle and Derek Preece

COLLECTPlus is like having another person beside me, helping me with collections!"

Tami, Billing Manager