Search
 
Best Practices

Making Sure 'the Check Is In The Mail'

Collections software can track down your biggest deadbeats

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In the late 1990s, CompUSA Inc., one of the nation’s top computer retailers, started to see substantial growth in its commercial accounts and, with it, substantial growth in past-due invoices. After struggling for several years with chasing down the delinquents and bulking up its collections department with an additional 83 people to do it, CompUSA finally went live with collection and dispute resolution software from GetPaid Corp. Within six months, its past-due dollars dropped to $2 million from $8 million, its Days Sales Outstanding (DSO)

fell to 46 from 52 and its collections staff was making 10 times as many customer calls a day. “It cues up faxes, letters, e-mails and phone calls, which allows us to contact every customer for every invoice,” says Patrick Fitzgerald, CompUSA’s senior director of corporate services. “That was something we just weren’t able to do manually.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Recommended Stories

Panel Anticipates More Treasuries Meltdowns Without Reform

Christopher Condon & Liz Capo McCormick |

“Episodes of market dysfunction are not only likely to continue but to occur with increasing frequency” unless market-making capacity for Treasuries trading is increased or the U.S. halts the rapid build-up of its debt outstanding.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.