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Michael S Fink's Articles in Business

  • Avoid The Collections Process And Keep Your Customers Buying From You
    Effective AR management is more than sending statements and transferring customers to collections for non-payment. Two integrated collections processes that must be considered include 1) Basic invoicing, or point of sale, conditions and 2) Expert AR follow-up after invoicing. This latter process is a mission critical function called pre-collections, or soft-collections, and is available from companies who specialize in these services.
  • The Most Overlooked Aspect of Your Company and Why It May Be Stealing Your Profits
    Most business owners understand sales but few understand the intricacies of implementing an effective accounts receivable management strategy. In fact, it is one of the most overlooked aspects in business today and it could be costing you a lot of customers and a lot of money. Your customer bought from you before, if you provided a good product or service, they are very likely to buy from you again. Don't lose them before their next purchase.
  • How To Increase Profit In Your Business
    Accounts receivable? Isn't that the part of the business no one wants to think about, or talk to the customer about? Sadly, that can be true. And too often managers delegate that part of the business to people who perhaps don't have the same sets of skills as those in sales, service, and QA. That is a mistake. Accounts receivable is perhaps the only department that can positively influence both the top line and the bottom line of a business.
  • What Are Collections And How Do They Work For My Business?
    To people in business, the term "collections" has various meanings. The real meaning of collections, however, takes in the entire process from invoicing to obtaining payment for value rendered to another entity. Collections is not synonymous with accounts receivable. Accounts receivable is a static asset and collections is a dynamic process of realizing maximum value from that asset by advancing cash flow as much as possible.
  • An Effective AR Strategy Has Cash Flow Impact and Can Stimulate Your Business
    More companies are beginning to see that professional accounts receivables management is not just about the cash flow impact and decreasing costs, although those are the expected results. It can also be a clear example of a well-managed, customer oriented business to both existing and prospective customers alike.

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