MRP can provide an Aging Analysis report that categorizes a company’s accounts receivable according to the length of time an invoice has been outstanding. Accounts receivable aging is a critical management tool as well as an analytic tool that helps determine the financial health of a company’s customers, and therefore the health of their business. Have you ever wondered the answers to the following questions?
- Why is your customer delinquent?
- Is your customer about to go out of business?
- Is your customer paying other creditors but not you?
- What’s the status of their credit? Has it declined greatly in the last few months?
- How is your client rated by the leading sources of domestic commercial credit information?
- A prioritized account list that needs immediate attention.
- Free demand letters.
- Credit information for high concern accounts.
- Recommendations to improve in-house collection efforts.
- An analysis of your customer’s true financial situation and a recommended payment schedule.
- Verification of a debtor’s reasons for delinquency.