Insights
How to Identify Financial Distress in Clients Early
Every business cherishes its reliable, long-standing clients. They pay on time, communicate clearly, and contribute consistently to your bottom line. But what happens when these “good clients” start to falter? When late payments become the norm, excuses pile up, or communication suddenly stops? It’s a scenario many businesses dread, and one that often signals...Read more→
Leveraging Technology for Accounts Receivable Collections
Manual collection processes, including the many companies that still use spreadsheets to aid the process have performance problems, including very low productivity, errors, and poor cash collections. Perhaps the best investment you can make is licensing an advanced SaaS system which will give you the structure to implement real discipline in your collection operations. It...Read more→
A Guide to Efficient and Effective Collection Practices
The basis of our accounts receivable management services is the prioritization of collection activities around the money and the priorities instead of an “alphabetic order” type of collection effort. 1. Create a Plan of Action using situational strategies based on the accounts and circumstances, but remember that measuring collection metrics is not the same as following...Read more→
Subrogation Collection Best Practices
Insurance executives are familiar with subrogation, the insurer’s legal right to pursue damages after paying a claim. However, it turns out that many insurers are unable to or neglect to pursue their subrogation rights. If they do, they may not be using best practices in doing so. This results in profit opportunities lost forever, as...Read more→