On time collections The collections manager has to focus on prevention to maximise on-time collections: In the following diagram, we identify three main...
Collections from customers in open credit Open credit is a payment method with no collateral or pre-approved means of payment which is subject to agreed commercials...
Automated collections Collection according to the credit terms from customers who pay by means of payment in advance (automated collection) Automated collection...
Collection according to the terms of the credit from customers who pay in a one-time payment before or at the time of delivery So far we have discussed...
Collection according to the credit terms from customers who pay by means of payment in advance (automated collection) Automated collection is collection by pre-determined payment methods which the customer provides at the time of the transaction: direct debits,...
Collection according to the terms of the credit from customers who pay in a one-time payment before or at the time of delivery So far we have discussed methods of payment which granted credit to the organisation’s customer. In many cases, businesses do...