That is the title of David Schmidt's article in the July 1999 issue of Business Finance and if you have not seen and read it then I encourage you to do so
immediately. David is a fellow consultant and the principal of A2 Resources based in Yardley, PA. He can be
contacted at firstname.lastname@example.org.
The article is not so much for the credit professional as it is for management and every senior manager should read this in order to understand the function of credit & collections in their organization.
The following are some of the highlights of David's article to boost collectors'
Keep the collection department informed especially of happenings in the sales organization.
Nothing can be more embarrassing then to learn about things going on in your organization from customers.
Give collectors responsibility for a reasonable number of accounts.
Have we heard this from some other source?
Pay collectors a professional wage. You get what you pay for.
Get nonperforming receivables off the books as quickly as possible.
David has provided real life examples from working credit managers and comments from other consultants in the field, one being Abe
Walking Bear Sanchez who is a frequent contributor to the discussion rooms at
Creditworthy.com. If you are unable to obtain a copy of the July issue of Business Finance or get a copy of the article from David then send an addressed stamped envelope and $1.00 to my attention at 3JM Company PO Box 406 Lake Dallas, TX 75065-406 and I will send you a copy. The one dollar is for copying.
I wish you well.