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Cấu trúc
Accounts Receivable Management Best Practices
Contents
Preface
Chapter 1: Introduction
Why is Receivables Management Important?
If It Was Easy, Everyone Would Do It (Well)
Influences Outside the Control of the Responsible Manager
Conflicting Priorities
Chapter 2: Receivables Antecedents
Quotation
Contract Administration
Pricing Administration
Credit Controls
Order Processing
Invoicing
Chapter 3: Receivables Asset Management
Introduction
Portfolio Strategy
Collection Process
Special Collection Efforts
Deductions Processing
Late Payment Fees and Prompt Payment Discounts
Dispute Management
Account Maintenance
Payment Processing
Chapter 4: Technology
Overview
Receivables Applications
Best Practices
Cost Versus Benefit
Key Points
Chapter 5: Organizational Structure
Overview
Best Practices
Key Points
Chapter 6: Metrics, Reporting, and Incentives
Overview
"Reporting-Driven Downward Spiral"
Best Practices
Incentives
Incentives Best Practices
Key Points
Chapter 7: Acquisition Integrations and ERP Implementations
Overview
Best Practices
Key Points
Chapter 8: Outsourcing
Overview
Best Practices
Key Points
Chapter 9: Selected Topics
Introduction
Policy and Procedures
Internal Controls
Financing of the Receivables Asset
Payment Term Changes
Appendix: Receivables Management Success Stories
Index
Nội dung
[...]... Structure Overview BestPractices Key Points 139 139 141 148 Chapter 6 Metrics, Reporting, and Incentives Overview “Reporting-Driven Downward Spiral” BestPractices Incentives Incentives BestPractices Key Points 149 149 150 152 158 159 164 Chapter 7 Acquisition Integrations and ERP Implementations Overview BestPractices Key Points 165 165 170 175 Chapter 8 Outsourcing Overview BestPractices Key Points... collections) are lacking Excellent 9 10 Accounts ReceivableManagementBestPractices order fulfillment drives high customer satisfaction In combination with accurate invoicing, the cost of delinquency, concessions, and management of the receivables asset can be dramatically reduced When competent credit control and collections are added, the total receivables management benefits are maximized QUOTATION... Exhibit 1.2 Drivers of Improved Receivables Management Front-End Operations Order Processing and Contract Administration Credit Verification and Controls Billing Past Due Receivables Collection Account Reconciliation • Dispute and Deduction Management • Cash Application • Terms and Conditions Prepayments Due Dates Current 6 Accounts ReceivableManagementBestPractices In most companies the sales strategy... the investment in receivables and the exposure to bad debt loss • Achieve strong receivables management results and provide excellent financial service to your customers versus minimizing the cost of the function Introduction 7 The BestPractices described in this book, when tailored to a company’s strategic objectives, culture, and industry, will enable excellence in receivables management in all... seen While this customer achieved a high degree of accuracy, it still grappled with a substantial volume of price discrepancies, which impacted invoicing accuracy and receivables management results 18 Accounts ReceivableManagementBestPractices ᮣ CASE HISTORY ᮤ ERP Bug Creates Customer and DSO Problems A supplier of medical devices to hospitals implemented a new enterprise resource planning (ERP)... the invoices were paid promptly and cost effectively The supplier’s receivables results improved, and its costs returned to normal 20 Accounts ReceivableManagementBestPractices • Enable pricing errors to be investigated and resolved quickly so the disputed invoice can be corrected and paid quickly with minimal rework and so that the receivables ledger and financial statements are accurate Accurate... (April 5, 2004), pp F1–F20 CHAPTER 2 Receivables Antecedents Receivables antecedents are defined as all the up-front operations required to create a receivable They include: • Quotation • Contract and pricing administration • Order processing • Credit control • Invoicing This chapter addresses these receivables antecedent functions only as they affect receivables management Naturally, there is a great... therefore were not true receivables Clearly, this firm was feeling tremendous pain from failure to manage its receivables Over an 18-month period, this firm completely redesigned its receivables management process, tools, staff skills, and management culture, implementing most of the principles and techniques described later in this book The benefits from the company’s improvement in its receivables, illustrated... properly authorized to do so If in doubt whether a person is authorized, secure a resolution from the board of directors attesting to such authority 14 Accounts ReceivableManagementBestPractices ᮣ CASE HISTORY ᮤ Delays on Contract Renewals Cause Receivables Headache A capital equipment manufacturer had a thriving maintenance business The majority of its customers were under service contracts that... will often need to be tailored to industryspecific practices The BestPractices in this book are real-world, field-tested practices They were developed, refined, and improved by the author over a 16 year period while working with over 100 companies in a wide range of industries to generate tangible, measurable improvements in the management of customer receivables Examples drawn from those engagements . Sons, Inc. Accounts Receivable Management Best Practices John G. Salek 00_SALEK_i_x 5/27/05 3:04 PM Page iii 00_SALEK_i_x 5/27/05 3:04 PM Page ii Accounts Receivable Management Best Practices 00_SALEK_i_x. Data: Salek, John G. Accounts receivable management best practices / John G. Salek. p. cm. Includes index. ISBN-10: 0-471-71654-5 (cloth) ISBN-13: 978-0-471-71654-9 1. Accounts receivable. I. Title requires balancing of opposing 2 Accounts Receivable Management Best Practices 01_SALEK_001_008 5/27/05 3:04 PM Page 2 Introduction 3 How Improved Receivables Management Can Revitalize an Organization A