SOLUTION:

Management: Review and update credit policies and establish clear guidelines for account management.

Manpower: Provide trainng on effective collection techniques and implement strategies to improve staff retention.

Machine: Upgrade accounting software and automate billing and invoicing process.

Materials: Double-check invoices for accuracy and maintain detailed records of transaction.

Method: Enhance communication channels with clients and implement proactive approach to collections.

Environment: Diversify client base and closely monitor industry trends to anticipate challenges.