What are the main steps of managing the collection in big companies?

1-keep updates regarding your customer financial profile

2- Daily close follow up on debtor balances

3- Minimize the risk (by increasing guarantees ...)

- Keep your clients intact in early ageing so as to avoid putting him into bad debts.

- Ensure the promises are kept and numbers are monitored on a daily basis.

- Ensure to resolve early queries and complains of the client so that he may not fall into higher delinquencies that creates bad image at both side.

- Unsecured loans must be organized by cycle wise instead on a monthly closings because of larger portfolio size.

- To avoid your accounts move into higher delinquencies and at certain point you have to take provisioning against it.

- Keep your team intact and motivated.

- Ensure if the account is skip or non-starter then it must be handled timely.

- Ensure proper legal action to be taken if required timely so as to avoid delaying tactics of the client.

- Ensure proper training to be given to the staff and they know the delay tactics of the client subsequently have empathy with the client if it is a genuine case.

- Ensure timely suit file & its execution.

- Ensure that your accounts not to be time barred.

I agree with you .However, the observation should be there every day in days work to be aware of the month analyzing and every single movement has been done.