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Case Study #1:
A national firm needed to allow their in house collections team to focus on their large dollar volume accounts, without losing the coverage of their many small dollar accounts and delinquent invoices.
Sterling Services provided a “virtual” accounts receivable presence for these accounts, maintaining contact, reducing delinquencies and lowering the DSO (Days Sales Outstanding) for the assigned portfolio.
Sterling Services provided the affordable and effective solution for this focused assignment within their overall collections plan.
Case Study #2:
A small business owner, looking to take his business to the next level, realized that he could no longer perform the accounts receivable function for his business effectively. He also had concerns about handing the job over to his accounting staff and/or the additional costs of adding more staff.
Sterling Services provided an accounts receivable audit and provided a plan for the implementation of a credit and collections procedure; staff training to assist with implementation and integration of a “virtual” accounts receivable function to get the job done(without adding another employee and extra employment expenses).
This resulted in a reduction in the average monthly overdue receivable and no increase in his staffing.
Case Study #3:
A well established small business found they were having increased receivables from their established customer base as well as several long standing overdue accounts.
Sterling Services provided a full review of their accounting, invoicing and collections procedures. Our recommendations included updating their accounting software (improving the speed of their invoicing), putting in place a complete credit and collections procedure and staff training to implement the policies.
The long standing overdue accounts were handled by Sterling Services and within 90 days the long standing overdue accounts were reduced by 90% (10% were uncollectable to due to age and/or poor documentation).
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