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Billing, Collections, and Cash Flow

In: Agency

Author

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  • Rick Webb

Abstract

Collections in services companies face unique challenges. Recurring revenues are more and more rare these days. Advance bookings are rare. We rely on getting paid, promptly, for the work we do specific for a certain client. Law firms and accounting firms, most notably, rely on similar systems. Whereas the law industry has been billing by the hour for centuries, advertising agencies have only been doing it for perhaps 50 years, and in that time, they’ve been doing it in a few different ways. Established norms don’t exist. What worked well with television advertising has not yet been replicated on the Internet. In many ways, you are on your own.

Suggested Citation

  • Rick Webb, 2015. "Billing, Collections, and Cash Flow," Palgrave Macmillan Books, in: Agency, chapter 27, pages 257-260, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50122-6_28
    DOI: 10.1007/978-1-137-50122-6_28
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