{"id":3169,"date":"2020-10-10T05:00:43","date_gmt":"2020-10-10T09:00:43","guid":{"rendered":"http:\/\/community.mis.temple.edu\/itacs5121fall16\/?p=3169"},"modified":"2018-12-07T12:12:07","modified_gmt":"2018-12-07T17:12:07","slug":"week-6-wrap-up-invoicing-collections-controls","status":"publish","type":"post","link":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/2020\/10\/10\/week-6-wrap-up-invoicing-collections-controls\/","title":{"rendered":"Week 6 Wrap-up: Invoicing &amp; Collections Controls"},"content":{"rendered":"<p><em>(My apologies for being late in updating this post &#8211; grading, etc. has been my focus).<\/em> Continuing great job on the discussions. Keep up the good work. \u00a0 You raised most of\u00a0the important\u00a0points but let me summarize my view.<\/p>\n<p><strong>Q1<\/strong>: If an outside organization &#8211; where would attack the OTC process? &#8211; You suggested several innovative ways to attack the process. \u00a0In the end a decision like this would depend on your motives, what you capabilities where vs. known vulnerabilities.<\/p>\n<p><strong>Q2<\/strong>: Who should care more about collections &#8211; Sales or Finance? \u00a0Many of you pointed out that sales function often has a conflict of interest in dealing with collections because of their customer focus and loyalty. \u00a0Therefore, I believe collections needs to be &#8216;owned&#8217; by a finance related function. \u00a0However, overzealous and callous collections process can erode customer satisfaction considerably. \u00a0There needs to be a cooperative relationship between the finance &#8216;owner&#8217; of collections and the business and sales organizations to assure appropriate collections policies are in place and to work cooperatively with customers who don&#8217;t pay well &#8211; there needs to be united messages to the customer.<\/p>\n<p><strong>Q3<\/strong>: Controls domestic vs. international: \u00a0You pointed out many of the differences in your discussion. \u00a0My experience is that currency, import\/export regulations, customs authorities and different shipping modes drive the major differences and depending on a company&#8217;s business appropriate control differences are also needed.<\/p>\n<p><strong>Q4<\/strong>:\u00a0Order to Cash (OTC) Process &#8211; what keeps you up at night: This depends some on the \u00a0nature of the business you&#8217;re working with. \u00a0Regardless &#8211; I recommend keeping focus on value, $$ related segments of the process (e.g. pricing, invoicing, cash collections)<\/p>\n<p>Always when working with the OTC process,\u00a0make sure you understand the nature and structure of the business. \u00a0The OTC process must relate more\u00a0than other processes to this nature and structure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(My apologies for being late in updating this post &#8211; grading, etc. has been my focus). Continuing great job on the discussions. Keep up the good work. \u00a0 You raised most of\u00a0the important\u00a0points but let me summarize my view. Q1: If an outside organization &#8211; where would attack the OTC process? &#8211; You suggested several [&hellip;]<\/p>\n","protected":false},"author":22812,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[715709],"tags":[],"class_list":{"0":"post-3169","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-week-05it-strategy","7":"entry"},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/users\/22812"}],"replies":[{"embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/comments?post=3169"}],"version-history":[{"count":1,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3169\/revisions"}],"predecessor-version":[{"id":4919,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/posts\/3169\/revisions\/4919"}],"wp:attachment":[{"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/media?parent=3169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/categories?post=3169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/community.mis.temple.edu\/mis5121sec701fall2019\/wp-json\/wp\/v2\/tags?post=3169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}