GERMANTOWN, Md. - Despite starting 2020 on strong footing, the U.S. economy has almost certainly plunged into recession due to the coronavirus pandemic, also known as COVID-19. Even as states begin to reopen, consumer demand is frozen and supply chains are disrupted. Businesses in every industry, including accounts receivable management (ARM), continue to face significant obstructions to normal operations. There is no doubt that what was the longest economic expansion ever recorded has ended.
To better understand the depth of the recession and its impact on the ARM industry, Kaulkin Ginsberg reviewed recently released economic data and surveyed ARM companies of all sizes and market verticals. Specifically, the report examines:
- The economic outlook in Q1 2020 and beyond (i.e., real gross domestic product, unemployment, and consumer sentiment)
- The ARM industry’s performance in Q1 2020 (i.e., face value of placements, number of accounts placed, total revenue, third-part collections revenue, employment, and creditor policy)
- Additional considerations for ARM executives
When asked about the report, Mike Ginsberg, president & CEO of Kaulkin Ginsberg Company stated, “ARM companies face numerous headwinds as they enter the second half of 2020, including reduced placement volumes, sustained high levels of unemployment, the possibility of no additional government stimulus, extended periods with no credit reporting or wage garnishments, and extended restrictions on collecting in specific regions. We wanted to release a report that offers tangible data to help executives make critical operational decisions in these turbulent times.”
This report, State of the US Accounts Receivable Management Industry in Q1 2020, is available for free. To receive your copy of the report, email email@example.com.
About Kaulkin Ginsberg Company
Since 1991, Kaulkin Ginsberg Company has provided critical strategic advice to the outsourced business services industry. Our client-centric approach covers almost every stage of a company’s life cycle and enables us to maintain longstanding relationships as trusted advisors. We provide mergers and acquisition advisory, strategic consulting, valuation and financial solutions, market intelligence and analysis, as well as litigation support and expert witness.