Collection management

Due to the increase in the delinquency suffered by most of the companies in our country, not having good collection conditions and monitoring them can result in treasury problems and a bad image for customers and suppliers. < br />
Failure to perform proper collection management reduces the confidence of customers, which may cause them to further relax the outstanding payment installments. Although it is thought that the professional management of collections should only be carried out in medium or large companies, the fact that a SME or a Family Company has this service only generates professionalism and economic growth in the short term.

A good follow-up of the debts of the clients is the basic pillar for the economy of every company, since it is the economic engine on which it will depend that the payments themselves can be settled. If there is no optimal control, there will surely be an increase in the opportunity cost of the company and therefore it can seriously damage it.

In order to carry out good management, the first thing we must do is to establish optimal and clear collection conditions, which are the company's survival insurance. But these conditions must give the necessary flexibility for certain special situations. The main objective of professionalizing the management of collections is divided into two equally important issues:

The negotiation of the collections: Negotiate and stipulate with the clients the conditions of collection. This is done in accordance with the payment system established with the suppliers area.

The management of collections: In case of not having a qualified person to take the administrative matter of the collection management, it is advisable to have a professional in the sector. This will be responsible for the functions of billing, accounting, relationship with debtors, documentation, etc ... With good management a timely payment is achieved by our customers.

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