Article Index:†††

 

Collections

International Credit & Collections

Collection Automation

Receivables Automation

Deduction Management

Receivables Financing

E-Commerce and A/R Management

Receivables Outsourcing

Information Resources

Remittance Processing

General Credit Management

Risk Management - Credit Analysis

 

Collections:

 

Time is Money

You can significantly improve collection performance by finding ways to diminish the time spent on support activities.  By consolidating information, adding communication tools and creating organizational efficiencies you can redirect your time and effort to contacting past due accounts (By David Schmidt, Recovery Advisor, Nov/Dec 2002, P. 12)

 

Cranking Up Collections
The Key Drivers Underlying Collection Productivity (By David Schmidt)

 

Donít Neglect the Small Stuff
Tips for Keeping Your Collection Engine Running at Full Power
(By David Schmidt)

 

Making the Most of Collectors
A collections staff can have a tremendous impact on a company's cash flow and its image in the marketplace. But reaping the benefits requires carefully selecting the players and removing obstacles to the team's success.(By David Schmidt, Business Finance, July 1999, P.107) 

 

Show Me the Money!
How do you know you're getting maximum value from collection agencies? A systematic evaluation procedure can provide solid proof.(By David Schmidt, Controller Magazine, June 1997, P.43)

 

 

Collection Software: [Return to Index]

 

8 Pitfalls of Collection Automation
You know that you need to automate your collection system. But do you know how to do it right?(By David Schmidt, Business Finance, May 1999, P.46)   

 

Open Your Cash Flow Faucet All the Way

How Automating Collections Gave Dunlop-Slazenger a Competitive Edge (By David Schmidt, Business Credit, October 1996)

 

Speeding Up Collections
Collection software packages prove that the rewards of automating the receivables process are a sure thing.
(By David Schmidt, Controller Magazine, December 1995, P.51)   

 

 

Deduction Management:[Return to Index]

 

Grappling with the Deduction Monster
Eight Ways to Keep Deductions Under Control (By David Schmidt)

 

Plugging the Black Hole of Deductions
Although only a small percentage of deduction claims are illegitimate, failing to recover those sums dilutes profits over time. The key to recovering all payments youíre due is minimizing opportunities for deductions to occur. (By David Schmidt, Business Finance, May 2000, P.47)     

 

Innovations in Deduction Resolution
All payment deductions are not created equal - some are legitimate, some are not. Either way, if they're not handled efficiently, deductions can be a drain on resources.†† (By David Schmidt, Controller Magazine, August 1997, P.36)  

 

Beyond Small Change
Payment deductions can take a big bite out of sales; deduction resolution tends to eat up substantial resources.(By David Schmidt, Controller Magazine, March 1996, P.35) 

 

 

E-commerce & A/R Management:[Return to Index]

 

Credit and Collections Finds a Home Online

Credit and collection activities are migrating to the Internet.Find out what works best and what products and services are available online.(By David Schmidt, Business Credit, October2001)

 

Receivables Management in an 'E' World
What new capabilities should companies look for in credit and collection managers? Creativity, technology know-how, problem-solving and relationship-building skills are at the top of the list.(By David Schmidt, Business Finance, May 2001, P.29) 

 

Challenges Presented by E-Commerce

Before you move online, you better automate your back office systems because manual systems are analogous to road blocks on the information highway.(By David Schmidt, Business Credit, June 2000)

 

Net Gain
Credit-related Internet applications help companies automate information flows and greatly improve the order-to-cash process.(By David Schmidt, Controller Magazine, August 1998, P.45)  

 

The Internet Advantage in Credit and Collections
The Net is more than an economical alternative to commercial credit databases. It's also a powerful communications tool that can boost the credit department's efficiency.(By David Schmidt, Controller Magazine, April 1997, P.27)

 

 

General Credit Management:[Return to Index]

 

How to Kill a Customer
Seven Practices Credit and Collections Needs to Avoid
(By David Schmidt)

 

How Does Your Organization Measure up?
Nine Critical Success Factors (By David Schmidt)

 

The Dirty Dozen: Twelve Ways Credit and Collections Will Be Transformed By a Technology-Driven World

This article isnít so much about technology, but rather how it is changing the management of trade receivables.With a number of trends starting to come together, we can expect some dramatic changes over the next three to five years (By David Schmidt, Business Credit, January 2002)

 

Wrestling with a Bad Economy

It has been a decade since credit pros have had to labor in a down economy.Now is the time to get back to the fundamentals of good credit policy and to take proactive steps to protect the value of your receivables portfolio.(By David Schmidt, Business Credit, May 2001)

 

Get Better Mileage for Your Information Dollars

The explosion of business information available over the Internet is making it possible for credit managers to fine tune their information gathering routines and cut costs while at the same time increasing the quality of their decisions.(By David Schmidt, Business Credit, March 2001)

 

Post-Acquisition Receivables Blues
Caught up in the hype of a merger or acquisition, senior executives often gloss over the challenges inherent in merging A/R portfolios. But problems with receivables can eat into the cash flow -- and future revenues -- of a newly formed company.(By David Schmidt, Business Finance, January 2001, P.67)

 

Developing Receivables Resourcefulness
Even if you donít have state-of-the-art receivables software, improvements in credit and collections productivity are possible.(By David Schmidt, Business Finance, November 2000, P.49) 

 

The Softer Side of Credit
Many credit professionals believe that a customer-friendly mind-set results in long-term, profitable relationships that benefit all concerned.(By David Schmidt, Business Finance, March 1999, P.31)††††††††††††††

 

Grappling With the Octopus
While a shared-services approach to credit and collections can save money and improve performance, some important subjective criteria must be weighed in before making a final decision.(By David Schmidt, Business Finance, January 1999, P.63)   

 

When Less Is More

Even credit departments with minimal resources can produce big results. The key is to develop efficient processes -- and then automate them to the max.(By David Schmidt, Business Finance, October 1998, P.81)   

 

Terms of Endearment
An effective credit policy that benefits both your company and its customers doesn't come easily. It requires aligning sales and credit toward achieving corporate goals, defining appropriate risk and addressing a variety of tactical factors.(By David Schmidt, Controller Magazine, April 1998, P.43)  

 

How Teams Clean Up Credit & Collections
Including credit and collection staff members on process-oriented teams results in happier customers, streamlined processes and better collections.(By David Schmidt, Controller Magazine, May 1997, P.22)  

 

8 Critical Success Factors For Credit and Collections
How to reduce payment risk in your receivables portfolio by upgrading internal policies and procedures.
(By David Schmidt, Controller Magazine, January 1997, P.41)   

 

The Credit Tug of War
Should credit be a finance function or should it come under the direction of sales and marketing?(By David Schmidt, Controller Magazine, October 1996, P.24) 

 

 

Information Resources:[Return to Index]

 

Cutting Through the Fog of War: How Leveraging Accounts Receivables Data Promotes Organizational Efficiencies

This is the information age, and those who do not get maximum value from their information resources are going to be at a competitive disadvantage.It is all about linking the islands of information that help perpetuate functional silos so that everyone in the organization can have easy access to corporate and customer intelligence.(By David Schmidt, Business Credit, March 2002)

 

An Intelligence Approach to Improving A/R
As an ever-widening stream of data flows into credit-and-collection functions, companies struggle to organize and leverage the information. Those that extract intelligence from this deluge reap the benefits of improved accounts receivable performance.(By David Schmidt, Business Finance, December 1999, P.73)  

 

Cost-Effective Credit Investigations
Spending more to reduce debt-default rates isn't always worthwhile. To maximize profits, businesses must balance bad-debt risk with the many obvious and not-so-obvious costs of aggressive credit reporting.
(By David Schmidt, Business Finance, June 1999, P.61)   

 

Survival of the Fittest
Credit managers have a wealth of alternatives to traditional credit reports, including abundant, low-cost Internet resources. But the reports, which are evolving to meet varying needs of users, still play an important role. Here's how to use them wisely.(By David Schmidt, Business Finance, December 1998, P.41)

 

Keeping Tabs on Customers
Industry credit groups provide a collective intelligence on customer payment habits and financial status, giving their members an edge in identifying credit risks and solving collection problems.
(By David Schmidt, Controller Magazine, February 1998, P.43) 

 

Tailored Solutions for Your Credit Information Needs
Credit information no longer comes in a one-size-fits-all package. Companies can manage their resources better than ever before by using custom-made solutions to meet specific requirements.(By David Schmidt, Controller Magazine, December 1996, P.37)  

 

 

International Credit:[Return to Index]

 

Migrating to Export Financing
Organizations that develop effective exportfinancing practices know how to tap banks, government agencies and other resources to minimize their risks and ratchet up profits.(By David Schmidt, Business Finance, July 2000, P.63)  

 

You're Not in Kansas Anymore, Part One
Before jumping into the worldmarketplace, credit managers need a guided tour of credit reporting practices. No two countries or customers are the same, and foreign credit reports look a lot different than their American cousins.(By David Schmidt, Controller Magazine, October 1997, P.37)   

 

You're Not in Kansas Anymore, Part Two
Qualifying a foreign customer's creditworthiness is only half the battle exporters face. Once you have found a suitable customer, you still have to structure the sale -- and choosing the best selling terms isn't always simple.(By David Schmidt, Controller Magazine, November 1997, P.37) 

 

 

Receivables Automation:[Return to Index]

 

Technology to the Rescue

Applied properly, technology will dramatically increase credit department productivity Ė find out how.(By David Schmidt, Business Credit, January 2001)

 

Agents of Change

Learn about the Role Technology has Played in Shifting the Credit and Collection Paradigm.(By David Schmidt, Business Credit, October 2000)

 

Imaging Is Everything
The ability to view originals of documents such as invoices and delivery notices from the desktop is helping companies streamline work processes.(By David Schmidt, Business Finance, September 2000, P.121)  

 

Courting Automation
Organizations that automate their credit and collection processes to meet business-to-business e-commerce demands reduce costs, quicken response time and improve accuracy.(By David Schmidt, Business Finance, April 2000, P.49)  

 

Three-Way Stretch
A trio of new tools -- risk analysis, collection/deduction and remittance processing software -- can expand your receivables reach and maximize bottom-line profits.(By David Schmidt, Controller Magazine, June 1998, P.43)  

 

Beyond Accounts Receivable Software
A/R software has reduced the grunt work in billing and cash posting, but a lot more needs to be done to achieve maximum efficiency in credit and collections. There's a wide variety of add-on packages that can take your processes to the next level.(By David Schmidt, Controller Magazine, March 1998, P.51)

 

The Permanence of Change
Companies are continually redefining and automating the credit function to streamline operations.
(By David Schmidt, Controller Magazine, December 1997, P.45)

 

Power Shopping for Credit Automation Tools
Credit analysis, collection/deduction management and electronic remittance processing packages are taking the credit and collections function to new heights of productivity.
(By David Schmidt, Controller Magazine, May 1997, P.29)  

 

 

Receivables Financing:[Return to Index]

 

Donít Sell Receivables Short

The commodization of receivables requires much more of an investment-like approach to receivables management (By David Schmidt, Business Credit, April 2001)

 

Evolving Species
Trade receivables securitization, which is still in its infancy compared with securitization of consumer debt, offers companies the opportunity to gain liquidity and reduce the cost of borrowing. (By David Schmidt, Business Finance, October 2000, P.77)  

 

Why Collect When You Can Sell?
Tired of dealing with accounts receivable (A/R) headaches, some companies are exploring the benefits of selling A/R outright. Exercising that option can deliver something more than quick pain relief; sometimes, it's a heady economic move.(By David Schmidt, Business Finance, September 1999, P.111)

 

Factors of Life
Factors have come a long way in providing a variety of cash flow products that address diverse business situations. Here's how to choose factoring services that are a good fit for your company.(By David Schmidt, Business Finance, February 1999, P.67)

 

 

Receivables Outsourcing:[Return to Index]

 

A Strategic Approach to Receivables Outsourcing

If you are using outsourcing to address tactical situations without having given thought to the big picture strategic issues, you may be dooming your outsourcing venture to failure or at least missing out on opportunities to better leverage your resources.(By David Schmidt, Business Credit, April 2000)

 

Beyond Buck Passing
Companies that treat receivables outsourcing casually are doomed to disappointment. After all, an outsourcing firm is only as good as the information you provide.(By David Schmidt, Business Finance, September 1998, P.45)  

 

Sending in the Collections Cavalry
Outsourcing firms offer broad experience and a deep knowledge base to help companies improve receivables - and the quality of service keeps getting better.(By David Schmidt, Controller Magazine, September 1996, P.43)  

 

 

Remittance Processing:[Return to Index]

 

Automation Tackles the Settlement Process

The advent of the Internet and e-commerce has sparked a great deal of interest in creating seamless payment systems Ė find out what is available now and what is on the horizon.(By David Schmidt, Business Credit, July/August 2001)

 

Fast Cash
Autocash software can substantially improve the efficiency of the cash-application process by eliminating the need for human intervention in 90 percent of remittance postings.(By David Schmidt, Business Finance, November 1999, P.79)  

 

Playing the Information Float
In today's low-inflation environment, bank lockboxes are transcending their traditional treasury role. Companies focusing on receivables management find that the lockbox can be a powerful tool.(By David Schmidt, Controller Magazine, May 1998, P.69) 

 

Automating Remittance Processing Shortens the Collection Cycle
Companies that automate remittance processing typically realize a 60 to 80 percent labor savings.Reallocating those resources, coupled with the reduction in information float when payments are posted automatically is accelerating collections.(By David A. Schmidt, Business Credit, January 1997)

 

Powerful Tools for Faster Collections
Procurement cards and automated payment drafts - which require relatively little capital, training and integration - are shortening the collection cycle, generating operational efficiencies and creating customer goodwill.(By David Schmidt, Controller Magazine, November 1996, P.25) 

 

 

Risk Management - Credit Analysis:[Return to Index]

 

Score One for Collections
Risk scoring isn't just for credit approvals anymore. Using internal and external data to predict delinquent accounts' probability of paying, companies are making their collection processes much more efficient.(By David Schmidt, Business Finance, October 1999, P.65)

 

Reasonable Precaution
Filing a UCC security statement can strengthen your position as a creditor in the event of a customer bankruptcy. However, filing can be cumbersome and costly unless you know how to streamline the process.(By David Schmidt, Business Finance, August 1999, P.45)  

 

A Delicate Balance
Companies can minimize the chances of late payment or nonpayment by knowing their customers. Automating data collection and dissemination and a portfolio approach can further tilt the scales toward lower bad debt and greater sales.(By David Schmidt, Business Finance, November 1998, P.71) 

 

The Credit Insurance Jigsaw Puzzle
Can credit insurance help your bottom line? In many cases, it can, but not if the policy you end up with is a poor fit with corporate goals and credit practices. (By David Schmidt, Controller Magazine, July 1998, P.35)

 

The Great Game of Credit Scoring
Credit scoring is gaining popularity as a commercial credit tool. Companies that employ credit scoring models and build the necessary support processes can hit a hole in one in the credit decision improvement process -- while reducing costs.(By David Schmidt, Controller Magazine, January 1998, P.61) 

 

Charlatans at the Gate
Credit fraud is a growing problem that can sneak up and attack any company. Understanding your vulnerability and getting to know your customers can substantially reduce risk.(By David Schmidt, Controller Magazine, September 1997, P.49)

 

Riskless Business?
Most companies insure business assets -- with the exception of accounts receivable. But there are compelling reasons to insure receivables, too, and several insurers have placed large bets that you will change your mind once you learn the facts.(By David Schmidt, Controller Magazine, July 1997, P.65)

 

Power Packed Credit Analysis Software
Credit analysis software that contains portfolio management components gives credit departments the necessary tools to analyze large and small accounts.(By David Schmidt, Controller Magazine, March 1997, P.49)

 

Divide and Conquer
Taking a portfolio approach to credit and collections, in which customers are segmented into logical groupings with common characteristics, such as product lines or distribution channels, can help reduce risk and maximize profits.(By David Schmidt, Controller Magazine, February 1997, P.51)

 

 

[Return to Index]