Receivables are amounts owed to the company by the customers to who company sell goods or services in the normal course of business. The main purpose of managing receivables is to meet competition and to increase sales and profits.
Developing a credit policy is something a business eventually has to face. One of the basic decisions you have to make when starting a business is whether or not you are going to extend credit to other businesses and consumers. This is a decision to be taken very seriously as it will impact your cash flow and even your profit.
Accounts receivables management includes establishing a credit and collections policy for your credit accounts, including aging accounts receivables and whether to sell on credit at all.
Following are the objectives of receivables management Services
To optimize the amount of sales
To minimize cost of credit
To optimize investment in receivables.
To increase credit sales.
Therefore, the main objective of receivable management is to create a balance between profitability and cost.
What are the areas covered by receivables management services?
In our competitive world, businesses are trying to be more productive with the same or fewer resources. Unfortunately, this process often ends up costing significantly more due to inefficiencies. Budget Source has the expertise, independence and flexibility to design a comprehensive, cost effective program that brings bottom line results to your credit organization. Clients “outsourcing” all or select credit department functions to our trained, professionals help realize real cost savings and improved efficiencies.
Credit and Collection Outsourcing to Improve Cash Flow, Profits and Operational Efficiencies
Our Receivables Management Services eliminate the need for you to hire and train competent, experienced credit management personnel, providing you savings in payroll/benefit costs along with other administrative cost savings associated with managing receivables.
• Real Cost Savings
• Focus Resources on Core Business
• Improve Liquidity
• Streamline Credit and Collection Processes
• Grow Sales Safely
• Improve Turnaround Times and Customer Service
Our Mission is to protect your profits.