CEO of Accounts Receivable Collection Agency Discusses New ARM Tech

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After TermSync unveiled their new accounts receivable software, John Monderine, CEO of Rapid Recovery Solution, issues a statement about the evolution of digitized metrics.

On April 28, 2013, John Monderine, CEO of accounts receivable collection agency Rapid Recovery Solution, issued a statement about the evolution of digitized metrics in response to the release of new ARM software.

A recent article from Accounting Today announces that the accounts receivable software developer, TermSync, has released the “TermSync Scorecard, an interactive dashboard designed to allow financial executives to take a deeper look into the accounts receivables department.”

According to Accounting Today, the software’s abilities include tracking how fast a company gets paid, the accuracy of invoices, customer service response time, customer satisfaction and responsibility of staff. Once a month, company executives who use TermSync accounts are sent a Scorecard, which includes calculations as well as comparisons to prior months and goals.

Mark Wilson, chief executive at TermSync, says that executives have access to more information than before with their Scorecard. “While the accounts receivable team is usually focused solely on bring in payments, it remains every employee’s job to encourage strong customer relations. Don’t just assume that because a transaction has been paid, customers are happy.”

John Monderine, CEO of commercial accounts receivable collection agency Rapid Recovery Solution, says that cloud-based technologies are making it easier for ARM departments to stay responsive and track their success. “We like having the security of cloud-based storage. Since we usually rely on proprietary methods of quantifying our customer relations successes, having quick-and-dirty metrics on this and on other components such as staff accountability could really change the way some financial execs do things.”

Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We do not alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.

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