Overdue Invoices Collections and reduction in debtors
Cash stuck with customers > 60 days from due date due to the following problems:
- Invoicing inefficiencies
- Invoice receipt & accounting inefficiencies
- Collections process follow up inefficiencies
- Time, process & patience to follow up with delinquent customers
Cash is trapped because of above reasons and leads to high DSO & debtors ageing - GGA has a solution to assist with trapped cash
|Receivables||Values in INR|
|Name 1||Total O/S||1-30||31-60||61-90||91-120||121-180||>180||Average Sales/Month|
|15 % interest pa||4,647||4,646,658|
GGA works with corporate and assists them in reducing debtors from ageing buckets where there is lack of focus from the sales and operations team – i.e. money in the 90 + bands and deductions by companies that have built up over a period of time.
Most sales and operations team focus on collecting the easy money and do not expend energy and time on the money that has got trapped due to lack of attention, small and non noticeable amounts, lack of follow up etc.
GGA follows up with their clients customers – telephonically, by email and personal visits and requests them to explain why the invoices are still unpaid, after understanding the reason, GGA works both internally at the client end and externally at the customer end to reduce debtors, unlock frozen cash flow, cure chronic backlogs, and recover hidden profits by reconciling accounts, resolving disputed accounts receivable and customer deductions for returns, trade promotions, charge backs, etc