The Importance of Collections Focus
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No matter how long I work in commercial collections, one aspect of this job will continue to amaze me. It is the fact that some collectors cannot, do not, or will not, when contacting delinquent accounts, differentiate between customers owing a few hundred dollars and customers with past due balances many times larger than that. Like most business issues, the old 80/20 rule applies to commercial collections. 80% of the past due balances involve 20% of your customers. I tell my collectors to . . . (to read the remainder of this article, please log in below.)
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