Why LIMS-MS? Because industry statistics and experts state:
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Industry statistics state that 70% of your money is tied up in accounts receivables
· "cash flow is the single most important factor to success..."
· "understand the collection process..."
· "understand the importance of static pool analysis tracking..."
*"Profitability is attained through the collection process and not the sales process."
MR. CHUCK BONANNO
Leedom and Associates
Happy Collector’s day article in November 2005 Dealer Business Journal
That the three considerations for a successful operation have not changed over the past twenty years,
1) Anticipate, predict and control negative cash flow
2) Manage loss performance
3) Portfolio management and collections"
Mr. Chris Leedom
President of Leedom and Associates,
Chairman and Founder of the National Special Finance and Buy-Here Pay-Here Conference,
and a leading industry trainer and consultant
"buy here, pay here is NOT about selling cars......but instead about collecting and managing subprime installment contract portfolios"
"dealers must have systems which can process a high volume of transactions accurately and cost-effectively"
" Collections are the fuel which drives the Buy Here, Pay Here engine, particularly during softer sales periods. "
" good underwriting and collection procedures always fare better whether in good or bad economic times. "
" where customer cash flow is tighter, ...requires that dealers be on “top of their game” in the ... collection areas "
" Collections should be your focus during these challenging economic times. "
Kenneth B. Shilson, CPA
Managing Director of Kenneth Shilson & Associates, P.C.,
CPA and founder of the National Association of Buy-Here, Pay-Here Dealers (NABD)
A Mid-Year Report On the Buy Here, Pay Here Industry
Anyone in this business knows buy here-pay here is a collections business, not a sales business.
Brett Carmichael, Collections "selling a car is only a small part of the work. Getting paid is what takes effort."
J ohn Carroll-Used Car Dealer Magazine
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