A financial customer service department combines the credit, customer service, order entry, shipping, billing, accounts receivable, and collection functions under one umbrella. This consolidation creates much better efficiency in getting orders out the door, processing payments, and making credit decisions. It also allows the company to analyse sales trends as they are happening so that adequate stock is available. Fortune 500 companies, such as Proctor and Gamble, have implemented financial customer service departments to maximise efficiency with impressive results. This volume provides step-by-step guidance for creating a financial customer service department as smoothly as possible. It examines this transition from the preliminary stages to the final adjustments.
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H.A. Schaeffer Jr., C.E.E., C.E.W., is president of D&H Credit Services, Inc., a credit and financial customer service consulting firm to all sizes of manufacturers, wholesalers, government agencies, and credit organizations located in Port Washington, New York. He has served as a credit consultant for a number of midsize companies as well as Fortune 500 companies, including Bausch & Lomb and Mobil, Inc. Schaeffer is a certified expert witness in bankruptcy preference actions. He represents creditors who have been served with a preference action by a trustee and has negotiated on behalf of several companies that have faced difficult large collection issues. He has taught credit courses for the American Management Association (AMA), the National Association of Credit Management (NACM), and Dun & Bradstreet. He also taught customized courses for Fortune 500 companies and noncredit organizations.
A powerful new strategic weapon has recently been added to the arsenals of leading companies nationwide - the financial customer service department. In case after documented case, these companies have learned that integrating the sales, credit, customer service, order fulfillment, billing, and collections functions within a single, tightly knit unit - the financial customer service department - leads to boosted sales, improved cash flow, and more efficient controls. In the first and only guide of its kind, expert H.A.Schaeffer Jr. explains how a financial customer service function works and how it can provide your company with an unbeatable competitive edge. More importantly, he provides you with an easy-to-follow blueprint and all the tools needed to pan, implement, fine-tune, and manage a financial customer service department. Drawn from Schaeffer's own practical experiences along with those of managers at numerous Fortune 500 companies, this book covers such vital topics as defining your company's computer capabilities and needs, how to most effectively integrate company resources, how to set up and provide essential staffing and training, the best way to manage the transition, how to go about creating your policies manual, and how to maximize the potential of your new department.
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