Member News: Accounts Receivable Update

ACCOUNTS RECEIVABLE UPDATE

Our accounts receivable have been considerably reduced in the past year through persistence, consistency and most importantly teamwork.   As of June 30/09, our year end, we reported an amount of less than 5% in both the over 60 and 90 day combined.

While the norm for the agencies is to pay in 60 days, we have been able to pay our members within 45 days of publication.  The last payment was on August 17/09 for all display ads up-to-and-including July 4/09.  The turnaround for problem resolution is very quick and continuous follow-up is done with the client for any corrections. Timely posting of cash receipts keeps the system current for all departments and clients.

A/R reports, client statements, and any accounts on C.O.D. or restricted credit, are reviewed and communicated regularly.  Continuing to train the agencies to accept and respect our more rigorous terms, we expect continue to perform well above the normal averages.

This has been made possible by the AWNA/AdWest teamwork in action; our payment terms are presented during the planning process, ads are priced and invoiced accordingly, and our members are uploading AWSOM files, within 24 hours onto the archive.