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How to Fix Collections

How to Fix Collections
Admin - Thu Apr 05, 2012 @ 06:58PM
Comments: 12

If your company is behind in the A/R department, bad things can happen. Cash starts getting tight, your bank starts asking questions, meeting payroll is tenuous at times, and when you have to place a large down payment on a materials purchase, you are scraping the bottom of the barrel. Heck, revenue looks good. But, revenue is only as good as the cash that comes in. You can have all the revenue in the world, but cash is king. You need to fix collections.

Maybe it is easier said than done. But Pat Dickson at www.patdickson.com seems to have an answer. He says he fixes collections all the time by taking 3 easy steps. First, get the actual person responsible for paying you on the phone and get a commitment to pay, in writing. Second, if you aren't getting paid because you messed up, get a high level manager behind you and get the problem fixed. Finally, keep following up and threaten legal action if you must.

Comments: 12


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