Accounts Receivable - Collection Techniques

Why Should You Attend:

Accounts receivable can be one of your organization's most valuable assets if managed properly. It is often the largest or second largest asset on the balance sheet. Therefore, any weakness in the financial controls for A/R could have a serious impact on the company’s financial statements.

In the last 50 years a series of collection techniques have been developed that allow for a much more efficient process to collect outstanding invoices from customers. While technology does help, there is a lot of evidence that technology alone is a poor collector. That's why this webinar will focus on the core collection techniques and best practices that are still required whether your company has spent millions on collection software or not. Having the right methods will improve how you use the tools that are to hand and improve accounts receivable performance.

Learning Objectives:

• To understand the method of contact we should use with the customer
• To understand the best practices that should be deployed around each of these collection techniques
• To help cash collectors to be more focused on their objectives
• To help experienced collectors refocus on best practices and shake off bad habits
• To help finance managers understand what cash collectors should be doing
• To help collection managers understand how to better supervise collection activity

Areas Covered in the Webinar:

• Accounts receivable is a business issues and not just a finance issue
• How do we distinguish the contact method we will use with specific customers?
• Best practice techniques for calling customers
• Best practice techniques for mailing customers
• Best practice techniques for automated dunning
• How do we measure collection success?

Who Will Benefit:

• CFOs
• Financial Controllers
• Credit Managers
• Cash Collectors
• Accountants
• Financial Managers
• Company Executives
• Anyone involved in the A/R compliance process
• Credit professionals required to co-certify

Instructor Profile:

Brian Shanahan is the leader and founder of Informita. Informita was formed in 2012 to assist companies in the areas of working capital and procurement, focusing on analytics, implementation and advisory. The team is there to support your working capital and procurement programs from cradle to grave in a cost efficient and effective manner. Informita's clients include a number of world majors in food products, pharmaceuticals, construction, paper and media industries.

Before Informita, Mr. Shanahan spent 19 years in management consultancy, 5 years in financial accounting roles in the UK and 3 years in retail in Ireland. To date, he has worked with nearly two hundred clients in 37 countries across 4 continents. He is also the founder of TermsCheck.com, a service that allows you to compare customer and supplier payment terms with other companies’ actual terms that have been compiled in 184 countries. He is also the co-founder of The Working Capital Channel, a co-operation between Informita and a Belgian software company DiscoverEdge.

In the media, Mr. Shanahan has been quoted many times in the financial press in such publications as The Financial Times, CFO Magazine Belgium, CFO World, The Manufacturer, The Grocer, Finance Director, Euromoney, Accountancy Age, Financial-i and The Evening Standard. He has also appeared on CNBC Europe’s Power Lunch to discuss working capital trends and is the author of five booklets: The Working Capital Handbook, The Procurement Leader's Handbook, Working Capital - What Next?, Achieving Change and Working Capital - In Pursuit of Zero.

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