As the economic climate changes drastically, the focus on cutting costs increases. The need to be able to demonstrate immediate benefit is critical. Human experience suggests that it is possible to create false economies, when trying to reduce costs in the Collection arena. Some of the key areas in which people have seen that a black and white approach is not necessarily best are detailed below. When budgets and capital are restricted, it is easy to assume that an off shore location where the facility and people costs are lower, is the 'best' answer to any problem. By employing staff already skilled in the required areas -- trained and experienced at another company's expense can significantly reduce initial training requirements and associated loss of productivity due to delays in effective working. In order to maintain effective and efficient collections, it is important not to fall into the cost grind trap.
The hidden cost of cost cutting Sue Chapple Credit Management; Jun 2009; Docstoc pg. 20 Reproduced with permission of the copyright owner. Fur
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