In the world of Accounts Receivable Management you hear many stories. Too many that if you do not live them they could seem like a wild Hollywood movie; set in a cold boardroom, with glass walls, and too many people in dark suits.The reality in today’s market and economic forecast is much more different.

We are knee-deep in the holidays and planning for 2024. So that means in between your dozens of Excel spreadsheets you relax in front of a holiday movie, with your drink of choice. Maybe a hot chocolate with marshmallows, or a cold beer. Whether the holiday movie is a classic or cheesy Hallmark, there is always a storyline of a ghost from your past coming to haunt you.

It is November, that means it is time to build a fire, crack open a bottle of your favorite beer or whiskey and have a chat by the fire. NCS Companies VP of Sales, Philip Eboli did just that. Last week, Philip spoke to Glen Olson of Olson Cash Flow Consulting Services LLC, a friend and partner for 10+ years. The conversation was not as tense or strategic as a chess game. It was casual but dove into the true meaning of a business partner and the state of the asset management industry.

Lifetime business partnerships are difficult to find and even harder to maintain. Many companies base partnership decisions on price, it is the bottom line after all but this is a mistake.

Partnering with a worldwide collection partner, believe it or not, is about retaining control of your company's receivables. I know, at first glance, this does not make a lot of sense. If I am giving up on trying to collect from a past due customer and send the account to a collection agency, how is that retaining control of the receivable?