We shared reader’s feedback with you in the last post.

http://faoblog.com/processes-ar-collections-workflow-2/

One more process that we had talked about was:

  • Actual collections through on-site agents

Normally this is an onsite activity, based on the geography where the client’s customers are placed. Usually, an off-shore unit will not handle this directly, but be supportive by providing MIS and specific details to a collector.

Sometimes a near-shore or on-shore back office handles this.

Some activities would comprise of:

  • Visiting the customer to deliver letters
  • Visiting customers for collection of payment / payment advise / payment proofs
  • Sometimes this may involve collection of cash
  • Deposit of the payment in bank accounts
  • Dispatch / scan of proofs and other details for amounts collected / proofs collected

They payouts of this activity are normally on a percentage of amount collected basis. For proofs, it may be based on hourly efforts or other mechanisms as may be agreed.

This activity is outsourced normally to professional on-shore agencies, who have relevant experience.

 Subscription and Guest Post:

You may subscribe to the blog from the subscription box on the opening page of the blog. We have enabled a button on the top of the first page, which will enable you share your posts. If you wish to write about any of the current streams, you can do it at http://faoblog.com/guest-post/. We will review your post and release it within 48 hours of your posting.