From the course: Balanced Scorecard and Key Performance Indicators
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Cash collection measure
From the course: Balanced Scorecard and Key Performance Indicators
Cash collection measure
- We're at the daily ATM meeting, looking at our four key performance indicators, our KPIs. First measure, driver turnover. The second measure is billable miles per tractor per day. The third measure is days pickup to cash. This number is the sum of the number of days to complete the following three actions, time from pickup to delivery, time from delivery to billing, and in finally time from billing to cash collection. Our goal is to have every trip billed and collected within 30 days from pickup. Now, whose performance should be evaluated based on this measure? Well, there are three very different sets of people involved in this important number, the scheduler, the billing clerk, and the accounts receivable clerk. First there's a scheduler who's responsible for getting the loads delivered quickly. The computerized scheduling programs used by trucking companies are quite sophisticated and these programs make the…
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