Convert Accounts Receivable to Cash Fast !
  • CODE : JOSA-0017
  • Duration : 60 Minutes
  • Level : Intermediate
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John G. Salek, President, Revenue Management Associates, LLC

Revenue Management Associates (RMA) helps companies optimize their use of trade credit to increase revenue and margin, control exposure to bad debt, improve cash flow, and reduce operational cost

  • 30 years experience in Invoice to Cash solutions development working in a broad range of industries with over 250 clients.
  • Author of Accounts Receivable Management Best Practices published by John Wiley
  • B. S. Business Administration from the University of Connecticut, MBA in Finance from The Tuck School of Business at Dartmouth College.

Management of Accounts Receivable (AR) is one of the most measurable activities within an organization. Among the most widely used metrics of AR management success are

Days Sales Outstanding (DSO) and the percent of the AR asset that is past due. While many believe these are flawed metrics, nobody outside the credit Department really cares; they just want a report on the actual measure achieved vs target and past year(s) and to “make the numbers.”

In view of this, it makes sense to expend substantial effort to “make the numbers.” Once that is achieved, and heightened scrutiny subsides, the Credit team can focus on medium and longer term initiatives that will enable additional (and sometimes huge) improvements. Examples of this are increasing billing accuracy and order fulfillment quality, implementing new technology, etc.

This webinar explains the elements of a short term effort that will enable you to “make the numbers” and reduce management scrutiny on achievement shortfalls.

Benefits will be lower AR delinquency and risk of bad debt loss, and increased cash flow from AR.

Learning Objectives

  • To define the short-term actions that can reduce DSO and past due to AR in a two to the three-month time period
  • Key elements to be discussed are:
         -   Strategy for A/R Management
         -   Tactics to Drive Results:  Short & Medium Term
         -   Metrics
         -   Case Studies
         -   Conclusion

Areas Covered

  • Introduction
  • Strategy  for A/R Management
  • Metrics
  • Case Studies
  • Conclusion
  • Questions

Course Level - Intermediate

Who Should Attend

Members of the Finance community responsible at some level, for managing a firm’s AR asset (CFO’s, Controllers, Treasurers, Credit Directors/Managers)

Why Should You Attend

Are you under pressure to reduce DSO and past due to AR now? Is your Credit Department unsure of how to achieve this quickly? Are they careening from one crisis to the next? Is their only solution to add more staff?

Learn:

  • The key actions that can be implemented within two weeks which will yield results within 2 to 3 months
  • Six short term initiatives that will drive results in the short term
  • Two medium-term actions that will generate results even before full implementation

At its worst, collections can be a reactive process, focusing efforts on (a) receivables in danger of becoming uncollectible (bad debt), and (b) past due receivables which have triggered a “hold order” condition. These categories of AR can be a relatively small portion of total AR, leaving the bulk of the AR underworked.

Generation of a quick improvement in AR metrics is dependent on a laser focus on activities that will drive short-term results, and a minimization of effort on those that will not. Learn to distinguish between these two categories of activities so your team can focus on the former.

The result: measurable reduction in DSO and past due to AR, and an increase in cash collected within 3 months.

  • $149.00



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