What is the most important metric to work upon to increase the collections tremendously ?

DSO(Days of sales outstanding) and Aging buckets

The main steps for the good collections process are as followed Phone calls for the pre-delinquent accounts. Phone calls for the front end accounts Bkt1 Home visit for the mid range accounts Bkt2-3 Home visit, skip tracking and legal action for the hardcore Bkt GCL and Written off accounts

Average collection period or Days sales outstanding (DSO)

Contacts with clients for payment when it become due. Recovery needs a lot of efforts and all this work relate with contacting clients through different means like telephonic contacts for recovery, writing letters/notices and personal visits. Above all while extending credit, you need to select the right person with good repayment history.