Credit & Collection Practices delivers the results of our research on credit and collection practices and technologies. The Ascent Group benchmarked credit & collection practices to uncover the most effective techniques and strategies for improving collection performance and reducing uncollectibles.
Risk management has evolved into a careful balancing act between customer satisfaction and prudent financial management. In the past, some companies routinely collected deposits from all customers—risk mitigation at the expense of customer satisfaction. By minimizing credit related risk up-front and throughout the account life cycle, managers can reduce operating costs and significantly improve profitability. They can also actively look to expand their service offerings to customers and increase customer satisfaction, secure in the knowledge that doing so will not cost the company and shareholders millions in increased uncollectible funds.