Many companies invest heavily to maintain their equipment or to keep their employees happy but few invest in credit and collections management to protect their largest or second largest asset – their accounts receivable. Effective credit and collections management can reap huge benefits in most businesses ranging from small companies
to larger companies who already have a credit and collections management plan. For example, most small companies don’t have dedicated resources to call on past due accounts. These companies may offer Net 30 terms to customers but it takes them over 60 days to collect on past due receivables.
Implementing a credit management system, policies, and procedures for credit and collection management can help companies reduce days sales outstanding by 10% to 20%. This equates to cash being in the bank 6-12 days faster increasing cash flow and reducing bad debt write-offs.
Most companies implementing credit and collections management policies and systems realize a return on investment in as little as 2 months through reductions in bad debt and financing costs.
Anytime Collect is a credit and collections management software application designed for small, midmarket, and growing enterprise customers who have yet to automate their credit and collection management activities. Companies can implement Anytime Collect credit and collections management in less than a day at a fraction of the cost of high-end systems.
Credit & collections management doesn’t have to be difficult. The credit & collection management process begins by defining the problem, conducting research, assigning someone for credit & collection management, and implementing systems and procedures to support the corporate financial goals.
Below are examples of how different companies have saved time and money with Anytime Collect:
- Systems Maintenance Services – Reduced DSO by 27 Days and Collected more than they invoiced in 2012. Integration with Sage ERP. (Watch Video)
- Healthday – Reduced past due receivables aged over 120 days by over 10% with Anytime Collect. Integration with QuickBooks. (Success Story)
- Hosepower USA – Manages 3,000 to 4,000 invoices monthly and 270 customer communications weekly with Anytime Collect. Integration with Infor ERP. (Success Story)
Companies interested in credit & collections management can get advice in the free white paper: 6 Steps To Creating A Business Credit Policy & Collections Action Plan.