I have been having a couple of good conversations with leaders of Accounts Receivable and Accounts Payable departments.
There are many similarities between the two.
Essentially the departments are two sides of the same coin.
Lots of synergies in thinking here…
I have been following some of the discussions on LinkedIn groups recently.
There is a lot of chatter and self promotion, however some discussions do really seem to capture the imagination of the audience.
One of the best I have seen so far;
Lots of really good opinion and the group really split between collection operations managers and managers of the credit risk lifecycle. (my view was you need both btw, cannot run a good process without the reports, yet need to also have a good action orientated team – who, I would add, like to help customers resolve any issues).
Pages of comments and views, somewhat polarized into the two camps.
It is the controversial that makes it popular I suspect.
Is this useful, not sure. However fun to observe and take part in the conversation.
Out at a collection industry event recently.
Interesting discussion and re the potential for a new downturn.
Superficially the economy appears robust in many areas (….where is the recession) however the consensus is that the consumer is stretched in some segments.
We may be exposed and if there is a new external shock it could cause the system to crystallize, creating a further downturn.
Lots of discussion regarding the real estate market here, even the BBC was talking about housing in Toronto….
To use a weather analogy – Is this a stretch of late summer heat before the leaves turn, or did we just have a mild winter and this is spring?
Either way…. it is always good to be prepared and plan, whilst hoping for the best.
