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I work for a courier & logistics company where we have regular customers on monthly billing. A little straight action on receivable means adverse effect on sales but we are managing is very successfully through simple strategy.
Follow up with courtesy.
A regular systematic follow up is the key of success in receivables.
This can be managed through a comination of the following:
1. having a risk based credit policy
2. getting the buy in from the sales team on the credit policy and customer acceptance policy
3. continuous coordination between top management, sales director / GM, sales team and control functions in the company (i.e. risk management, internal audit, operations, etc.) to enhance / update the credit policy
