Collections Management

How long does it take your customers, clients or patients to pay you for the products or services you have provided?

Have you developed a consistent collection management program?

Your answer to the above questions is a leading indicator as to how well you collection management is. Sending an invoice doesn't always result in payment. Successful collection management s a matter of making your payment terms crystal clear and separating collection management from new business functions, in other words - keep your emotions out of collection management!. You can't be hesitant or soft in collection management.

Collection management is a sticky subject because it can require getting tough with the very same customers that pay your salary. Many small businesses handle the collection management process in-house, either by having their sales staff with the task of collecting their accounts (talk about playing on both sides of the fence) or by using billing staff that have never had formal collection management training.

Frequently, a business will consider turning over a past-due receivable to a commercial collection agency after it has been outstanding for 90 days. At their core, collection agencies try to get the money owed by using a combination of letters and telephone calls. The are just professional and full time collection management firms.

Monitoring slow-paying accounts and adopting timely and systematic billing practices are just two ways you can help reduce your receivables using collection management.

Collection Agency Outsourcing offers you free information on collection agencies and debt collections issues.

In The News:
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.google.com/hostednews/afp/article/ALeqM5i-xDOTe0w7L4jF1g5lOVZPYwpJvAcid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNFKfKTK0tresCOLbKDVB1YA8Sx-bQimg src=http://news.google.com/news?imgefp=nICGyBBy_zoJimgurl=www.google.com/hostednews/afp/media/ALeqM5jroZzHDYghNsqNmNtkZaA1NWN0Rg width=80 height=53 alt= border=1brfont size=-2AFP/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/12/01/AR2008120101022.htmlcid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNGwzYhCNMx8s7GQIDD87UOzarBRdAManufacturing index drops to 26-year low/abrfont size=-1font color=#6f6f6fWashington Post,nbsp;United Statesnbsp;-/font nobr14 hours ago/nobr/fontbrfont size=-1The Institute for Supply bManagement#39;s/b monthly index of manufacturing activity fell to 36.2 from October#39;s 38.9. The reading is worse than Wall Street b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://money.cnn.com/2008/12/01/news/economy/ISM_November/%3Fpostversion%3D2008120110cid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNHDNbz7e-yUDpMhTNNgyQLMbzfDfwManufacturing index at 26-year low/a font size=-1 color=#6f6f6fnobrCNNMoney.com/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/manufacturing-falling-fastest-pace-27/story.aspx%3Fguid%3D%257B01759E58-3EB4-4E5E-A1A1-2BC26F9A8A8D%257Dcid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNEY_Ys58tsoOMDIkO2OnZRsQH_bqgCORRECT: Manufacturing falling at fastest pace in 27 years/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bizjournals.com/nashville/stories/2008/12/01/daily9.htmlcid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNGh9W7DcmEFrQtDhISnBlsRqpXpWQManufacturing hits 26-year low/a font size=-1 color=#6f6f6fnobrBizjournals.com/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://money.cnn.com/2008/12/01/news/economy/ISM_November/%3Fpostversion%3D2008120111cid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNEQaNdBf3I-vhxWhVKQugcxhlswAQnobrCNN/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/markets/2008/12/01/manufacturing-retail-consumer-markets-econ-cx_cg_1201markets18.htmlcid=1276422140ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNGIw4RNLVHeCdT-YIruXMqRrc4JIAnobrForbes/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276422140hl=ennobrall 652 news articles/nobr/a/font/div/font/td/tr/table
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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Updated-Information-Regarding-Auction-Preferred/story.aspx%3Fguid%3D%257B869464BD-34F0-4889-BC11-666C196B5457%257Dcid=1276628257ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNEyItmXR-z__djnfxbRRs0n6OVoEQUpdated Information Regarding Auction Preferred Securities Market b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr8 hours ago/nobr/fontbrfont size=-1BOSTON, Dec 01, 2008 (BUSINESS WIRE) -- MFS Investment bManagement/b(R) (MFS) today announced the availability of information on the results of the weekly b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Gideon-Technologies-CEO-To-Give/story.aspx%3Fguid%3D%257B7F21B780-4CB3-4A33-B667-724B0AF4324B%257Dcid=1276605793ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNFEAkyXdPBpTAl8Rc2nW8EQAM_89wGideon Technologies CEO To Give Unified Compliance bManagement/b b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1Unified Compliance bManagement/b simplifies this complex problem. quot;The combination of a holistic centralized view of the network, unified and continuous b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Transite-Technology-Signs-Deal-MCR/story.aspx%3Fguid%3D%257B68033FCC-D3DB-430C-AA06-C338E00DFBED%257Dcid=1276668403ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNG8pIOJbuIGSxWwJ8rXdvYz1BahFgTransite Technology Signs Deal with MCR Safety to Provide b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr8 hours ago/nobr/fontbrfont size=-1quot;And, it also is in line with our intent to cement our position as the leading transportation bmanagement/b application to the SAP system. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Research-Markets-Training-Management-Maturity/story.aspx%3Fguid%3D%257B7D6818E5-8250-4A6D-B555-A9CD4D5EA73A%257Dcid=1276579789ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNGgLYVl51T6PSpdJAfDSaey3MtbagResearch and Markets: Training bManagement/b Maturity Model: A b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1How effective is your current training bmanagement/b system? What do you need to do to improve it? Find out with this best practice model and set of assessment b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Research-Markets-Fundamentals-Quality-Control/story.aspx%3Fguid%3D%257B179937E7-E40D-4AED-8F23-F04BD5B29EC0%257Dcid=1276579789ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNEoe5jJotYdmlI123e7hc6o5Wqu5gResearch and Markets: Fundamentals of Quality Control and b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276579789hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Single-Source-Introduces-New-Advanced/story.aspx%3Fguid%3D%257B5F9B6094-79DA-4B91-9089-E3100016FC14%257Dcid=1276524746ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNHGbYR7UDsdgSey-7leW8Ev6DopfQSingle Source Introduces New Advanced Quote bManagement/b (AQM)(TM b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr16 hours ago/nobr/fontbrfont size=-1All functions seamlessly integrate to the inherent back-office financials, inventory, purchasing and bmanagement/b reporting functionality of SM-Plus-meeting b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.businesswire.com/news/google/20081201005164/encid=1276524746ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNERCvzqR0sPqYpaNi_KoLHlINPlhQKANA Recognized by Leading Industry Publications for Innovation b.../b/a font size=-1 color=#6f6f6fnobrBusiness Wire (press release)/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1276524746hl=ennobrall 23 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/The-Apogee-Companies-a-Leading/story.aspx%3Fguid%3D%257B885FA962-35D5-4654-B3DC-4B4723F7A75A%257Dcid=1276467599ei=vM80SbL9O43W6gOm2d2KAQusg=AFQjCNFu0U8BSorJk5ylPXsRoyYa5d3GdAThe Apogee Companies, a Leading Property bManagement/b Company b.../b/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr19 hours ago/nobr/fontbrfont size=-1quot;These upcoming new deals will broaden our abilities to grow throughout the USquot; The Apogee Companies is a leader in property and real estate bmanagement/b with b.../b/font/div/font/td/tr/table
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