Updated July 2022 Most business offices have a dedicated department that is responsible for their AR billing processes. The system each company follows can be as simple as sending a bill and hoping it gets paid, or as complex as a series of payment notices, late fees and other prompts to decrease days sales outstanding (DSO).What is Accounts Receivable (AR) …
Why Attorneys Should Embrace New Law Firm Technology
The slow adoption rate of law firm technology has been discussed in the legal industry for years. In 2016, LexisNexis covered law firms and technology, centering on why firms have struggled to keep up. The article cited a report that suggests it is because “most lawyers have a tendency to believe their own practice is better equipped than others to confront …
Payment Collection: How To Use Your Voice as a Tool of Persuasion
Share this Article“Have you ever thought that when you’re on a call, you could strategically use your voice and speech melody to be more persuasive, and perhaps redirect the behavior and change the direction of that call?” This is a question presenter Liz Peterson asked the audience at the 2019 Collector Live virtual conference. Peterson has worked as a speech …
How To Manage Employees: Hiring and Employee Retention
Turnover is a concern office managers face constantly. While some factors are beyond your control, there is much you can do to increase your employee retention. The collection industry faces more hurdles than most when it comes to hiring and retaining a good, engaged, workforce. This has given managers in the industry a lot of experience hiring, managing and training …
Multi Generational Team Management
Effective team management transforms your office. It can create an environment where happy, self-sufficient employees work well on their own and also come together to create a winning team. This isn’t always as simple as it sounds. A good manager must take into account the backgrounds and experiences each employee brings to their work. Experiences that change with every generation. …
How a Payment Management System Improves Office Operations
Share this ArticleAll office managers are looking for ways to save money and make operations run more smoothly. However, spotting ways to improve can be tricky. One overlooked area that can cut expenses is your payment management system. The value of a good solution is hard to quantify just by the price tag. After all, efficiency in your processes can …
Team Management: Seven Steps to Lead a Winning Team
This year’s presentations at the California Association of Collectors (CAC) conference and expo in Rancho Mirage, Calif. featured some of the best minds in the credit and collection industry. While many subjects centered on best practices for successful agencies, one session provided unique advice which can be applied to all aspects of personal, professional and group communication, no matter what …
