Debt Recovery Management (DRM)
Sales are complete when you receive your sales proceeds, but what if sales proceeds remain outstanding or your debtor refuses to pay for credit sales. In these situations, the organisation is a nightmare. This nightmare is further aggravated when management needs to provide an explanation every year for outstanding debtors published in your financial statements.
Debt recovery has now become the main constraint for growth. As a prerequisite in a competitive business scenario, you cannot afford to avoid credit or advance while sale is made.
In this, the "Debt Recovery Management" process is quite helpful in ensuring that your debtors pay on time and, on the other hand, implement the credit policy. "Debt Recovery Management" is a set of policies, checkpoints, expert advice and legal actions, including the following:
- Creating policies on the basis of project, company as well as other factors
- Aligning debt collection policies with other policy initiatives and departments
- Ensure that policy is an integral part of the system
- Before an analysis of sales
- Analysis of Debtor Profile
- Critical analysis and discussion with the opposite side
- Preparing possible proposals with your permission
- Implementation of debt
- Helping you before your next course of action
- Users can track the progress of our site at any time.
Proper synchronization of the above activates would ensure full recovery.