CONSULTING SERVICES:


Over time, the value of your dollar significantly decreases.  Simply put, the longer a receivable is outstanding, the less likely it is to be recovered. The graph below shows collectability percentages of commercial accounts for the years 2000 and 2001. Not only does the recovery rate drop the longer the account is past-due but the recovery percentages from year to year are also decreasing. Due to issues beyond our control, past-due receivables continue to require stronger practices to ensure that they are collected as close to their due date as possible. Otherwise, businesses will continue to see less of their money year after year. Romano & Associates, LLC will work with your company and develop business practices that not only collect your current past-dues but also minimize future ones.
 

Are you satisfied with your current returns on outstanding receivables?  Here are some questions to consider:

  • What actions has your company taken to minimize the risk of problem accounts?

  • What are the procedures your A/R department takes to invoice a customer?

  • What are their subsequent actions when the account first becomes past-due?

  • What is the department taught to communicate with problem accounts?

  • What leads to the decision to send accounts to a collection agency?

  • How much of your outstanding dollars is your collection agency returning back to your company, and after how long?


If you don’t know the answers to these questions, or haven’t put much thought into them lately, we can help. Dino Romano, the President of R&A, will always personally meet with your company to determine the biggest issues facing your current collections strategy. After this initial consultation, we can determine the most effective program that would benefit your company and help produce…

   1. Escalating Profits
   2. Shorter Recovery Times
   3. Improved Employee Morale
   4. Increases in the Value of your Entire Organization