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Conference call: Mary Josenhans President of WestLAND Group, Inc. (Best Firm #41 Multi-discipline and Hot Firm #45 for 2017), a full-service civil engineering and land surveying firm based in Ontario, California.
By LIISA ANDREASSEN Correspondent “I t’s important to identify and develop future company leaders so that they’re able to gradu- ally assume greater levels of responsibility,” Josen- hans says. A CONVERSATION WITH MARY JOSENHANS. The Zweig Letter: What’s your philosophy on fee/ billing and accounts receivable? How do you col- lect fees from a difficult client? Mary Josenhans: We typically bill clients on a monthly basis. Invoices are delivered via email to avoid potential mail delays. We always confirm the preferred email address for each customer which usually means directing the email to accounts pay- able with a copy to the approving project manager. We will extend credit (e.g., net 30 days) depending on the specific requirements of each customer. If there are none, we ask for “payment due upon re- ceipt.” Customers also have an option to pay using electronic funds transfer, which deposits direct- ly to our bank account. EFT enables more timely and reliable payment of invoices. We also analyze a customer’s general credit-worthiness prior to per- forming work to minimize the risk of under-collec- tion and/or payment default. We also track aging
receivables on a weekly basis, and follow-up on any accounts that are past due. We email and attempt to engage more difficult customers via phone, par- ticularly those who are routinely lax in paying on time. We keep a log of emails and/or conversations with customers. We’re willing to provide limited credit to key customers. Our goal is to preserve good customer relationships. If all else fails, we’ll consider turning over severely delinquent accounts to a collection agency. “Board members need to fully understand and actively engage in virtually all aspects of operations plus provide strategic overview and guidance.” TZL: What’s the recipe for creating an effective board? MJ: Board members need to fully understand and actively engage in virtually all aspects of opera- tions plus provide strategic overview and guidance. Board members need to work as a group on roles, mission, succession planning, acquisitions, and capital allocation. Board members must be willing to take appropriate risks, make tough decisions, or
Mary Josenhans, President, WestLAND Group, Inc.
THE ZWEIG LETTER Ju
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