Debtor Management is a time consuming, methodical task that is critical to the collection of tuition fees. School finance departments simply do not have the time to deal with this task to the level required. Further, the task is daunting to most staff, particularly if the staff were to have relationships with the families.
Cole Debtor Managers are highly skilled professionals who treat your families with respect and empathy, and achieve great results such as:
- Improved cash flow
- Reduced outstanding debt
- Decreased provision for doubtful debts
- Establishing a payment culture within the parent community
Cole provides a virtual solution, using technology to act on behalf of the School direct from the Cole office. Our Cole Debtor Managers will:
- Systematically work through your Debtor Aged Trial Balance, categorising the debt according to risk.
- Communicate and negotiate repayments with families.
- Advise the decision makers regarding debt that requires escalation.
- Report quarterly the key findings and collection statistics.
- Advise if your Terms and Conditions will legally protect the School.
- Review the School’s tuition billing system.
When the Debtor Manager is working for your school, it is the only job they do… no distractions!