RECEIVABLES AND COLLECTIONS MANAGEMENT
Receivables Management
For any business across any industry, finance stands to be the most important factor in running it smoothly and viably. In order to do so, Business has to have a sorted and regular receivables’ cycle. Lack of it can cause serious financial strain on a business; there are probabilities of getting out of the market as well. To take care of this importance aspect of businesses, we at FinTrench, provide you with our quality receivables management services to make sure that your business grows at a great pace. Irregular payments, lack in payment set-up, less credibility of clients, lack of attention and importance, etc. are the prime causes that hinder the receivables that a business is supposed to get on time. That’s where we come into the picture; we prepare a receivables management plan for our clients that solve all these issues that are very usual to occur.
What We Do?
From preparation of timely invoices, to determining the credit risk of the customers, drafting the credit policy, tracking the payments received and to be received, and ultimately putting these invoices and payments received into the accounting software in order to keep the accounting up to the mark with the changing dynamics of businesses.
Collections management
Debt collection is an unfortunate reality for most businesses. When customers are ultimately unable to pay for their purchase, the impact of those lost dollars can be significant. For small businesses especially, failure to collect on outstanding accounts receivables can have dire consequences. We, at FinTrench, employ a variety of methods to collect on past due invoices, such as phone calls, emails, letters, and site visits. These can be time-consuming and costly. Regardless of the method used, when it comes to business debt collections and accounts receivable management, efficiency is the name of the game. The sooner companies can receive payment on goods and services rendered, the better it is for their bottom line.