“Efficiency is doing things right. Effectiveness is doing the right thing”
Is your credit and collections department efficient? There are other ways to look at this, such as whether the department is maximizing its potential to meet the company's objectives in terms of cash flow and liquidity revenue generation. The credit and collections department plays a key role in both of these things in terms of cash flow and liquidity, as well as an effective collection of accounts receivable.
Looking at your department, is it effective in these areas? In order to really measure these things, use this checklist now
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