5 steps to effectively collect past-due accounts as financial strain grows on consumers
As consumer debt levels increase, utilities, service providers, financial institutions, and telecommunications companies can use digital debt collection software to maintain positive cash flow and successfully navigate the 2022/2023 recession.
What you will learn
This time of financial uncertainty leaves Finance and Operations teams with the extra challenge of recovering past-due accounts while navigating in these murky waters. They must proceed cautiously, careful to balance the needs of the business with those of their past-due customers
A robust collections strategy is crucial to steering companies through a market downturn. Here we look at some options you can take to improve your performance and emerge out of the 2022/2023 recession financially stronger.
This ebook presents five steps to collect past-due accounts effectively in a looming recession:
- Minimize cash flow impact
- Be proactive, not reactive
- Track crucial KPIs
- Optimize costs
- Build to scale