Collections
When a firm refers to money owed to them by a customer, it is referred to as collections. When a consumer fails to pay a company within the agreed-upon terms, the bill becomes past due and occasionally turns over to a collection agency. For example, when a company sells a product or service to consumers, payment is expected immediately or within a specific period, such as 30 days. Unfortunately, some consumers fail to pay the company within the agreed-upon terms, and the account may be considered in collections at this time.
This software is researched and edited by
Rajat Gupta is the founder of Spotsaas, where he reviews and compares software tools that help businesses work smarter. Over the past two years, he has analyzed thousands of products across CRM, HR, AI, and finance — combining real-world research with a strong foundation in commerce and the CFA program. He's especially curious about AI, automation, and the future of work tech. Outside of SpotSaaS, you'll find him on a badminton court or tracking the stock market.
Disclaimer: This research has been collated from a variety of authoritative sources. We welcome your feedback at [email protected].
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