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Word on the Street
1 Jul, 2009 By: Marty Whitford Landscape Management"As the economy in Southwest Florida worsened, we experienced an increase in bad debts in our construction division. Our maintenance division has a dedicated client base — established communities have managed to make payments on time; however, upstart communities have struggled to make payments. Working with these communities to reduce costs by streamlining services has kept our receivables stable. The established relationship we have with our bank has allowed us to pay our vendors on time and make any necessary purchases." — Joe Gonzalez , president/owner of Venice, FL-based ArtisTree Landscape Maintenance & Design
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"Good question. In 2008, we saw our accounts receivable increase 2 to 2.5%. To combat this, we're being more vigilant monitoring accounts 30 days or more past due. Our employees are using predictive dialers to touch base with late pays, and we're sending letters to some customers who are more than 60 days late notifying them that their accounts will be turned over to collections within 10 days. These measures and others have helped us keep accounts receivables in check and keep paying our accounts payables in a timely manner." — Jennifer Lemcke , chief operating officer, Weed Man USA based Oshawa, Ontario, Canada
 Jennifer Lemcke |
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