How to collect money in a downturn
During a recession or other times of financial difficulty, many businesses take a good hard look at their collections operation. Collecting money effectively and efficiently can have dramatic impacts on cashflow and to the overall health of a business. Doing so in a downturn can be the difference between the survival or failure of the business. This light-hearted guide is designed to give you food for thought and demonsrates the thinking that underlies our Collections & Recoveries Healthcheck Service. It covers the following key areas:
- Issues to be thinking about
- Customer segmentation
- Staff training
- Management information
- Governance
