The current business and economic uncertainty has exposed the assets of many company to greater risks. Action must be taken immediately to check these risks.

What can the company do?

The obvious answers would be to prevent receivables from going bad by monitoring them closely. But at a time of business slowdown, it is inevitable that more than normal account will default, no matter how closely they are monitored and preventive actions taken. In such a situation then, more staff needs to be deployed to the collection and recovery task to minimize loss to the company. It is easy to assign staff to do collection works. But will they be effective? Obviously not, unless they are first equipped with the know-how to do it.