Free Up Cash for your Business with Bill Collections

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Sep 8

Free Up Cash for your Business with Bill Collections

September 8, 2006

Know More: Creating a Credit Policy, I have past due customers, what do I do?, More Cash for Your Business, What makes a Good Collector?

When you collect from your customers you can help free up cash to use in your business. Did you know that, according to the results from the 9th Annual working Capital Survey, the top 1000 companies freed up $72 billion of cash from working capital in 2005 by fine tuning the way they collect from their customers?

"More than ever before, U.S. companies are seeing the value of improving their total working capital performance," says Hackett-REL President Stephen Payne. "But even with the strides companies have made in the past few years, there's still a tremendous amount of money being left on the Table here, especially with 43 industry sectors showing improvement while 35 worsened in 2005."

Several trends played a role in helping U.S. companies generate the results they did last year, Payne says. "The greatest improvement this year was in Days Sale Outstanding, in part because accounts receivable is the area of working capital where CFO's have the most influence."

Stephen Payne is the president of Hackett-REL, which found that the top 1,000 companies achieved Days Working Capital of 50.4 days. His survey found that Days Inventory Outstanding declined 2.9% and Days Payables Outstanding increased by 0.6% in 2005, compared with 2004.

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