My Toughest Collection Call Ever

We've all made lots of tough calls to tough customers with tough deadlines.  But there's always a few that standout and there's always one which stays with you forever.

Mine was to an internal customer.....my CFO.  It was a "collection" call in that I was asking for money. I had to speak to him to request unbudgeted money to purchase a new collection system.

I was literally at the cross roads of my career.  I took a job in a growing company as their first Global Credit Manager.  It was growing so fast that the current system was unable to cope with the demands to track collections. Everything was too manuel. Because of it, our Days Sales Outstanding was getting worse, cash was getting tighter, the company's balance sheet was suffering and my career was on the line. I had 120 seconds with the CFO to make my case for a new system

Here's how it went:  "Hi its Bill"  "OK Bill...what do want?"   "I need $70,000 for a new system which will automate the collection workflow and accelerate cash into the company."

Silence for 10 seconds.....then the words to me "Bill....I have no Fxxxxx money."   "OK...but the system will pay for itself in 6 months."   The CFO repeated to me "Bill.....I have no Fxxxxx money!"  Well...figuring I'd be out of job in less than 6 months if Collections continued on their current path, I asked a third time...and it was the charm.   Our CFO agreed to the unbudgeted money, probably because he felt as desperate as me.

In the end, us desperadoes got what we wanted. I got the new collection system, cash dramatically improved and our CFO got to manage a financially much healthier company.  Also, my career was saved and eventually it led to a promotion.

Whew....you don't want to got through that experience in your career. And you don't have to anymore. I had to ask for a lot of "up front" money to purchase a new collection system.  Now you can get a great cash collection system without all that hassle...by going the subscription method.  With subscription based systems, your ROI can be within 30 days because you're paying just  monthly over a specified period.   Win win all around.  Your company pays incrementally as your cash flow...and perhaps your career....start to accelerate. As the Cash Man Says:

                               When in doubt -Collect !