Fact Sheet:
My background is in accelerated cash management ranging from thousands of dollars due in a financial quarter to tens of millions of dollars per customer in a single payment cycle. Collections logic is established based upon each customer’s contractual terms and their preferred method of remittance. Finesse, diplomacy, elegance and understanding are the basis of my communication with your customers in handling payment processing and payment forecasting, so that bad debt is either identified immediately or eliminated on the back end of the overall transaction(s).
Some of the most important aspects of managing your receivables properly have to do with maintaining consistent visibility in front of your customer, establishing a productive customer relationship, keeping effective communication going and making sure your customers understand your expectation of timely payments.
My service provides you with accelerated accounts receivable by correcting initial invoicing errors, by understanding and exploiting your customers’ payable processing system and by establishing the quickest method of payment possible (e.g. EFT, ACH, wire transfers, etc.).
With mollied it is possible to adjust your staffing levels and use your accounting department even more effectively, as well as having earlier use of incoming cash in the timeliest way possible — each month, every month.
Allow me to get around the cash management techniques used by your customers where I establish a “pay YOU first” mentality so your company’s visibility means you won’t be forgotten, or worse, bumped, on the next check run.
The cash-in reports I provide are grounded in reality because I remove the so-called ‘valid’ excuses from your customer who is now tightening their cash control based on the changes in the economy. You can be sure of the dates I provide regarding when payment will be made to your bank.
With my services, Days Sales Outstanding (DSO) is now in line with a healthy financial environment of your company. I have reduced DSOs from 72 to 28 days within months of beginning to work on an account. In 2009, it is even more important to quickly turn sales into cash which means your company has the chance to put the cash to use again – ideally, to reinvest and make more sales.
I can protect you from a customer who is considering filing for bankruptcy protection, or the fallout when a customer is purchased by a competitor – or even the massive problems if your customer becomes insolvent. Over the past eleven years, I have worked with some of the largest companies in the world and know the signs indicating financial health; I will immediately inform you if there appear to be problems in feedback and a customer is not maintaining their payment promises.
Effective accounts receivable management comes from ongoing communication granting you visibility in your customer’s monthly payment cycles. Strong language and vague threats of delivery suspension are NEVER appropriate. This visibility takes time; effective, appropriate visibility takes years of trial-and-error to execute at the correct time in the best manner possible. This experience is what I bring to your A/R process saving you time each month and providing accurate financial reporting, making sure you are able to determine the best use of your cash.