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Home > Business & Economics > Finance & Accounting > Accounts Receivable Management Best Practices
Accounts Receivable Management Best Practices
by Salek, John G.
 
 
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Accounts Receivable Management Best Practices
"Praise for Accounts Receivable Management Best Practices

""An excellent reference tool on how to manage the accounts receivable process for any company. The use of real-life examples makes the concepts easy to understand. I recommend the book to anyone who wants to improve cash flow and reduce bad debt loss.""
—Michael E. Beaulieu, Senior Vice President, Finance Cardinal Health

""Rather than simply explaining how to get the greatest return from an investment in accounts receivable, John G. Salek reveals how companies shoot themselves in the foot when management sets policies and procedures without consideration of the impact on cash flow. Accounts Receivable Management Best Practices isn't just for credit and collection professionals who often spend more time cleaning up process errors and other corporate 'garbage,' instead of managing risk. It should be required reading for C-level executives, the sales staff, operations managers, and anybody else whose job impacts the order-to-cash cycle.""
—David Schmidt, Principal, A2 Resources Coauthor of Power Collecting: Automation for Effective Asset Management

""Enhancing a company's competitive profile is all about giving enough customers the right product, at the right price, at the right time. This author's real-world approach to accomplishing this goal through the prism of receivables management makes this book a must-read for those companies looking to make their mark as an organization that cares about its customers as well as their own need to produce financial results.""
—Bruce C. Lynn, Managing Director The Financial Executives Consulting Group, LLC

""I have worked with John Salek since 1992, both as his client and as a project manager working with his organization. His knowledge of receivables management . . . the technology, the processes, and the formula for success . . . are unsurpassed in the field.""
—Stephen L. Watts, Manager, Global Receivables (retired) General Electric Medical Systems

""Mr. Salek has written a masterpiece on the intricacies and management of the accounts receivable portfolio. I would recommend this book to CFOs, controllers, treasurers, credit managers, and small business owners.""
—Steve Kozack, Credit Manager Lennox Hearth Products

""Written by an author who has been in the trenches and cites actual examples. This is not written in theory, but from practice.""
—Milt Dardis, Collection Consultant Dardis & Associates "



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Title of ebook: Accounts Receivable Management Best Practices
ISBN: 9780471741916
parent-ISBN: 9780471716549
Publisher: John Wiley & Sons, Inc.
Internet download file size: 733 kb
Pages: 224
Published: 04-2006
Released online for download: 04-20-2006
Author of eBook: Salek, John G.
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Accounts Receivable Management Best Practices


Chapter One

Introduction

WHY IS RECEIVABLES MANAGEMENT IMPORTANT?

It can be argued that revenue generation is the most critical function of a company. Dot-com companies that created exciting new products but failed to generate significant revenue burned through their cash and ceased operating. Every company expends substantial resources to generate increasing levels of revenue.

However, that revenue must be converted into cash. Cash is the lifeblood of any company. Every dollar of a company's revenue becomes a receivable that must be managed and collected.

Therefore, the staff and processes that manage your receivables asset:

Manage 100% of your company's revenue. Serve as a service touch point for virtually all your customers. (Only Sales and Customer Service speak more with your customers.) Can incur or save millions of dollars of bad debt and interest expense. Can injure or enhance customer service and satisfaction, leading to increases or decreases in revenue.

If increasing revenue, enhancing customer satisfaction, and reducing expenses are important to you, read on.

The benefits of effec ... read full excerpt from Accounts Receivable Management Best Practices ebook



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