Credit & Collection Managers closely watch the sluggish U.S. Economy
For Immediate Release
Woodland Hills, CA -- With the national employment rate stuck at 9.6 percent (14.8 unemployed Americans) and the U.S economy growing at an anemic two percent annual rate in the third quarter, Caine & Weiner, an international provider of accounts receivable management solutions, surveyed businesses in every major industry to determine how the uncertain economy was affecting their cash flow.
In response to the survey, 43.8% of the respondents that took part reported their DSO (days sales outstanding) remained about the same as last year and 63.5% reported no changes were made to their department staffing levels. Most of the respondents are engaged in business to business (B2B) commerce.
When asked about their expectations for the next six months, for placing accounts for collection, 57.5% reported placements will remain about the same. In response to the number of customer bankruptcy filings compared to last year, the majority (41.7%) reported filings were about the same.
An increase in company sales is expected in 2011 by the majority (59.5%) of respondents.
The survey results indicate that cautionary measures have been implemented by Credit and Collection Managers to protect their accounts receivables in light of the uncertain economy. Such measures may include trimming back credit lines and initiating collection activity sooner.
Caine & Weiner (www.caine-weiner.com), a founding member of the Commercial Collection Agency Association, certified by the Commercial Law League of America, provides a full range of commercial and consumer accounts receivable management services which include first party outsourcing and third party debt resolution services for businesses in every major industry which include many Fortune 500 Companies. Founded in 1930, Caine & Weiner has a national network of full-service collection centers, and through their active partnership with Global Credit Solutions (GCS), maintains a world-wide presence in 80 countries.
In keeping with its active support of the industry, Caine & Weiner is pleased to share its ongoing surveys with credit and collection professionals for analysis and evaluation.
To see the results graphically, please click here.
Contact: Frank Draper Vice President--Marketing
21210 Erwin St.
Woodland Hills, Ca 91367