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Accounts Receivable Management Best Practices February 2006 John G. Salek, Parson Consulting National Leader, Receivables Cycle Management, discusses his book, Accounts Receivable Management Best Practices. What is the topic of the book? What wisdom are you sharing with your readers?
The topic is how to best manage the accounts receivable asset. The wisdom is that gained in working with over 100 companies in the past 18 years to improve their receivables management capability. Who is the target audience?
Financial Managers such as CFO's, Controllers, Treasurers, and Credit Managers.
How is your approach on the topic different than previous books on the subject?
The book contains dozens of real-world examples and stories of specific problems and how they were solved using the best practices described in the book. Also, the approach is borne of a formal business education at the Tuck School at Dartmouth, combined with techniques that have been proven to work with the 100+ companies in a variety of industries. This is real-world information.
The "stories" are set off in clearly delineated sections interspersed throughout the book. Also included are charts and graphs which decreases the amount of text and makes the book a quick read.
Can you share a best practice from your book? There are two key steps to measuring the right indicators. First, simplify, simplify, simplify. Don't track and report on too many indicators. Reporting should require only one-half-day per month from your Credit Manager; any more, and results will be impacted by the diversion of time away from those activities that drive results!
Second, report on the essential metrics:
Purchase Accounts Receivable Management Best Practices (Wiley 2005) from this link and save 20%: Use discount code aff20 at checkout.
2006 SmartPros Ltd. All rights reserved.
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