10 Common Mistakes to Avoid During Debt Collection

10 Common Mistakes to Avoid During Debt Collection

Debt collection is one of the most important and trickiest processes that impact the cash flow of a business. When not done properly, debt collection can have financial repercussions and reputational damage. With a process this important and intricate, mistakes can...
Top 5 Benefits of Business Process Outsourcing

Top 5 Benefits of Business Process Outsourcing

Business process outsourcing (BPO) is the practice of contracting with an external company to handle specific business functions or activities.  Essentially, you hire a specialist outside your organization to take care of certain tasks, allowing you to focus on...
What is Accounts Receivable Turnover Ratio?

What is Accounts Receivable Turnover Ratio?

The accounts receivable turnover ratio (AR turnover ratio), also known as the debtors’ turnover ratio, is a metric used to assess a company’s efficiency in collecting payments from credit sales. It essentially measures how many times a company sells and...
How Do Debt Collections Work? A Step-by-Step Guide

How Do Debt Collections Work? A Step-by-Step Guide

Understanding how debt collections work is crucial for both creditors and debtors. This process helps businesses recover unpaid debts and ensures financial stability. Let’s explore the different stages involved in debt collection. Collections or debt collections...