Credit & Collections Management in the Manufacturing Industry: Industry Report

Credit & Collections Management in the Manufacturing Industry

Product Type: Market Research Report
Published by: Best Practices, LLC
Published: November 2007
Product Code: R3339-23

Description

This benchmarking study was conducted to gain insights into how the credit and collections function within a manufacturing company is best managed to create the greatest efficiencies and service. This 28-slide presentation provides key metrics and a great deal of qualitative lessons learned that will enable organizations to compare the structure and management of their credit and collections functions against those of the benchmark class and leverage the practices of other organizations. The study will enable organizations to identify performance gaps and areas for improvement to better manage their credit and collections functions.

KEY TOPICS

Optimal Credit and Collections Structure
Efficient Systems for Credit and Collection Processes
Credit and Collection Function Improvements and Results
Qualitative Lessons Learned:
Process Management Opportunities
Key Credit & Collections Issues
Key Customer Service Issues
External Communication Issues
Internal Communication Issues

KEY METRICS

The following metrics show the percent of companies in the benchmark class in various categories in the following areas:

Centralization in Credit and Collections Departments
Departmental Responsibility for Credit and Collections
Ranges of Percentages of Remittances Posted in 24 hours
Ranges of Percentages of Payments that are Automatically Matched & Applied
Use of Automated Credit Remittances
Electronic Invoice Presentment & Payment (EIPP) Utilization
Credit & Collections Management Improvements
Practice of Charging Back Unearned Discounts to Customers
Effectiveness Ratings of Various Dispute Management Policies
Effectiveness Ratings for Various Management Improvement Initiatives

Table of Contents

Research Overview
Key Findings
Quantitative and Qualitative Analysis
Lessons Learned
About Best Practices, LLC

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