As a small business owner, improving your accounts receivable turnover should be a priority as cash flow is one of the most cited reasons that small businesses fail. The money you earn selling your product or service on credit cannot truly be counted as revenue until it’s been collected from clients!

The better you are at managing your accounts receivable and collecting the payments from your customers, the more cash your business will have available to pay its expenses and service its debts. And having a healthy cash flow is one of the best indicators of long-term business success.

It can be difficult for small businesses to manage accounts receivable, especially when dealing with larger companies. Some big retailers take as long as 90 or even 120 days to pay their vendors. Understandably, this can place small businesses in a precarious cash flow position.

Thus, it’s vital to implement a process to monitor and collect your receivables as soon as possible. The accounts receivable management is critical for running a company and will go a long way in securing long-term success.

In this workshop, the facilitator hopes to share his 38 years of practical experience in credit management i.e. credit assessment and recovery, the 2 important components that would outline how to carry out the roles, functions and responsibilities appropriately to cope with the pressures, within or outside your organization, in handling professionally issues related to debt collection and ensure the company stays on course to achieving its goals.