Collections Best Practices

Nearly every collection credit policy manual contains samples of collection letters. Typically, the first letter is friendly in tone – a gentle reminder. The second is less friendly, but still… Read More

How did you get into the profession of Accounts Receivable | Credit & Collections? What do you know now that you wish you’d learned sooner?  We asked these questions and more of Judy Bicking,… Read More

What You Need to Know About Clients’ Push for Extended Credit Terms - IOFM is hearing that B2B customers are asking for, and often receiving, extended contract terms on new orders. Across several… Read More

It’s not enough to simply send the invoices out—companies must also make sure they are paid. Unfortunately, whether due to a simple slip of the mind, blatant disregard, or some unresolved… Read More

For more than three years, Jason Rupaka, ARM, has managed the accounts receivable department at Foley Carrier Services (Hartford, CT), a company that manages mandated DOT regulatory safety compliance… Read More

It’s easy to send out a customer invoice—roping in the actual dollars is the tough part. But that’s exactly the mission AR departments are tasked with. Like superheroes, they must leap tall… Read More

In our article “How Top of the World Headwear’s AR Team Captures the Cash,” we look at the ways one savvy AR department uses communication—particularly the telephone—to get customers to pay… Read More

A not uncommon refrain of AR management is that their collectors are not adequately trained in the basics of solid collection practices, or do not follow the department’s procedures… Read More

A perennial question that comes up in discussions about AR and collections is the issue of whether it is a good idea to involve sales staff in collections efforts—either as an ongoing practice or… Read More

Working in collections no doubt provides workers with interesting stories to tell around the water cooler, but the unfortunate reality is that the stories you hear are often negative. A customer… Read More