What is Accounts Receivable Management?
Accounts receivable management (ARM) is a set of policies and procedures to ensure that owed payments are collected on time, in their entirety and credited to the proper account. The collection agency payment process is done in compliance with federal and state laws and regulations.
If the consumers do not pay the amounts they owe then the debt may be turned over to a collection agency. The collection agency then initiates the process of collecting the debt.