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On Modeling to Support Collections and Recovery

The client lacked the ability to assess collection agent performance. They had no BI/Performance Analytics software and installation wasn’t possible at that time. But it was viable to build an automated collections performance model in Excel, as was using AR data sourced from the ERP to update it.

The model brought immediate benefits to collections and recovery. Individual collection agent performance, measured by cash collected, could be quickly assessed in any timeline and seen by agents and management. Management could see which agents were best at managing accounts at different delinquency levels, based on actual cash collected and by account delinquency levels (e.g., 30- or 60-day overdue), and they could reassign accounts at the delinquency levels agents collected most efficiently. Collection targets could be set at an agent level by analyzing data. Cash collection forecasting was more accurate and aided the 13-week cash flow forecasting process.

It was extremely gratifying to build a high cash impact model in a relatively short period. Just as “a penny saved is a penny earned,” collections and recovery process improvement is a benefit to the bottom line.

Careers at 8020 Consulting

We take pride in nurturing long-term relationships with our team members and our clients. If you’re interested in working on our team of accounting and finance consultants, visit the careers section of our website to learn more about life at 8020. You can also put in an application for consideration by following the instructions at the bottom of the page:

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About Vikram

Vikram possesses 17 years of experience focused in Financial Planning and Analysis across a variety of industries such as Entertainment, IT Communications, Banking, Food and Beverage, Investment Consulting, Retail, Publishing, Aircraft Distribution, and Real Estate. Vikram’s core competencies include managing finance teams and operations (Supply Chain/Inventory Management, Cost Accounting), conceptualizing and leading budgeting and forecasting processes relating to the P&L, Capital Planning, Balance Sheet and Cash Flow analysis for both mid-sized and Fortune 1000 Companies. Vikram has project managed and led several financial system implementations such as Rightsline, Anaplan, Hyperion Essbase, and TM1 Cognos. Vikram attended Willamette University (Oregon) where he received his MBA specializing in Finance. He also holds a bachelor’s degree in Finance and Accounting from Christ College in Bangalore and a master’s degree in Finance and Accounting from Bangalore University.

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