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Conference call: David Wantman CEO of Wantman Group, Inc. (#5 Hot Firm and #19 Best Firm Multidiscipline for 2016), a 310-person engineering consulting firm based in West Palm Beach, Florida.
By LIISA ANDREASSEN Correspondent “T he easiest work is repeat work – they know us, we know them – and the whole process just runs smoother,” Wantman says. “Cash flow is the heart of any business, and it’s something we actively monitor at many levels.” A CONVERSATION WITH DAVID WANTMAN. TZL: What’s your philosophy on fee/billing and accounts receivable? How do you collect fees from a difficult client?
somethingwe activelymonitor atmany levels. First, we use an escalation-based process, where the proj- ect manager approaches the client when they are behind – typically around the 60-day mark. If that isn’t effective, it escalates to accounting. The next step involves the senior management team, and fi- nally it would end up in our legal department for collections. It’s a bit clichéd, but it’s a situation pro- fessional services providers and consultants know will happen – the client never had the money, nev- er had the intention, or has an “I don’t need to pay for it” attitude. We try to be proactive at the lowest level before it becomes contentious. TZL: What’s the recipe for creating an effective board? DW: There are a number of factors. We strive for a board that is talent-centric so that we have
David Want- man, CEO, Wantman Group, Inc.
DW: Cash flow is the heart of any business, and it’s
THE ZWEIG LETTER Mar
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