In 2002, US suppliers wrote off more than $18 billion (USD) in bad checks. And the bankruptcy picture has certainly not improved since then. Companies that act quickly to secure overdue accounts are the companies that have the best chance of remaining in the black. The SYSPRO Collections Module automates debt collection, and can help address this acute need.
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which accounts are overdue. Tri-Star Plastics Corp., a Shrewsbury, Mass.-based, privately owned manufacturer and distributor of plastic products, is exemplary of the methodology, or lack thereof, used to collect past due accounts. Prior to the implementation of collection software, Tri-Star's accountant would periodically run an ageing report, highlight past due accounts and make phone calls in an effort to collect. In addition to being time consuming, the methodology did not always produce results.