2001 FIRST ENERGY CHALLENGE #1
Develop strategies to reduce our outstanding and past due accounts receivable.
Develop strategies to reduce our outstanding and past due accounts receivable.
Not unlike other service providers, FirstEnergy is plagued by a number
of receivables that ultimately are written-off as uncollectible. We face
the challenge of keeping the charge-offs in check while the rates we charge
for our service are fixed. We work accounts in the normal fashion (e.g.,
calling on past due accounts, arranging payment terms, using collection
agencies). What other actions could be taken to more proactively manage
our accounts receivable?