Do you track your overall debtor numbers based on DSO (Days Sales Outstanding) or Ledger Ratios (% in various stages of ageing relative to the total balance) or just simply % of total debtors which is overdue. Irrespective of which way you track your debtors here are 10 tips which will help keep your debtors numbers heading in the right direction....
Credit Management and Debt Recovery Solutions in Dublin & Across Ireland
Because we have been in your shoes. Sat at a similar desk and faced the same pressures and deadlines, we know it can be difficult to concentrate time and energy into credit management. Month ends seem to come around faster.
Tasks that are urgent but not the most important can in a lot of cases distract you from the primary responsibility of a credit manager.
Our team have been involved in credit management and debt recovery for over 30 years. In fact, we have spent all of our professional working lives as credit professionals.
Managing a debtor book requires care, dedication and commitment not to mention vigilance. Experience has shown us the bitter reality of what can happen to a business that has not invested in the management of the debtor book.