Collection Strategies for Optimizing Corporate Cash Flow and Working Capital
David Schmidt Overview:
This session will discuss how to optimize cash flow and working capital for your enterprise by applying the best collection strategy to each customer. You will learn how to recognize the weaknesses and pitfalls in your current collection process so you can then take steps to strategically collect more overdue funds faster.
Why you should Attend:
This topic will help collectors and collection supervisors better understand their organization’s collection environment. Commercial collections are complicated by the variety of your customers’ needs. Corporations need to be handled differently than Mom and Pop operations. Likewise, growing firms and distressed companies present different sets of challenges than stable enterprises. It also matters whether you are selling a commodity or a custom product as well as the status of your production capacity. Cash is King, and collection organizations that underperform put the entire enterprise at risk in today’s competitive marketplace.
Areas Covered in the Session:
- Creating Time for Collections
- Understanding Collections Relationship to the Other Elements of the Quote-To-Cash Process
- Building an Efficient Collection Process
- Eliminating the Obstacles That Hinder Collection Efficiency
- Monitoring Collection Performance
- Monitoring Collector Workloads
- Why Collections Gets Knocked off Track and How to Stop It
- More Tips for Enhancing Collection Performance
Who Will Benefit:
- CFOs
- Controllers
- Treasurers
- AR Supervisors
- Collectors
- Collection Managers
- Credit Analysts
- Credit & Collections Executives
- Customer Financial Service Representatives
- Accounting Managers etc
Speaker Profile
David Schmidt founded A2 Resources in 1994, a management consultancy focusing on credit, collections, and receivables improvement along with small business data intelligence; besides working with corporations and financial services firms, David also serves as a leading industry analyst covering the B2B order-to-cash automation marketplace. He also recently became a member of Quote-to-Cash (Q2C) LLC, which has a similar focus.
Prior to A2 Resources, he managed credit departments in corporate manufacturing and distribution environments for 16 years; he is also an alumnus of Dun & Bradstreet
David has conducted workshops across North America as well as online on a variety of credit and collections improvement and receivables automation topics and has been a speaker at NACM, CRF, and AFP conferences.
He is co-author of the seminal text on collection automation, "Power Collecting: Automation for Effective Asset Management," 1998, John Wiley & Sons, NYC .
David is also the author of hundreds of articles published in a variety of publications, including Business Finance, Collections Advisor, Business Credit, the Credit & Financial Management Review, the Credit and Collections Manager’s Letter, and was a long-time editor at Credit Today
He has worked with the Credit Research Foundation, Federation of Credit & Financial Professionals, Institute of Financial Management, as well as the NACM and many of its affiliates.