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Financial challenges during any unprecedented time will land at the office of where the unpaid receivables live: the collections department. Call it any other name—accounts receivable office, the office of student accounts, business office, or customer service—the function is the same; we need to talk with the customer about their unpaid bills. During times of financial difficulty or in this case a pandemic, the well-defined strategy should include all areas of the organization for a
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The pandemic of COVID-19 in the year 2020 gives an unanticipated pause to businesses by requiring all residents stay at home to slow, and hopefully eliminate, the spread of the virus. “Well-prepared” crisis management strategies appear to have not considered the possibility that members of the economy would be required to scramble franticly to implement remote operations. In contrast, others would not be able to work at all. Moreover, these planners seem to have overlooked the prospect
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