Accounts Receivable Coordinator, Fish & Richardson P.C.

Hello. My name is Richard Bailey. The company that I work for is Fish and Richardson. It's a law firm and my title is accounts receivable coordinator. So a little bit about my job that I do. Is one of the things that Fish and Richardson represent clients that will go to court for intellectual properties, trademark, and patents. And so my portfolio that I have is I'm in charge of 200 clients and we have a team of 10. And the main thing that I do is I reach out to the clients every 60 days by email to collect on the services that we've rendered for them. So the good thing that, and when they brought me in they said that Richard, we do what's called soft collections. So we don't typically call anyone. But all of our communication is by email. And we send the email, 60 days, after the 60 days we wait for a response and then we do a two week follow up every time, after we send it out at the 60 days. Some clients respond at the 60 days others don't respond and then we do what's called a follow up. And then a third follow up. So in the event that a client does not respond then every client is given an attorney. And so the assigned attorney for that client then we reach out to them. We say the the client isn't responding. What is your guidance in trying to get the collection? The important part of getting the collections is, there's two parts of the invoice. There's fees. And there's cost. Cost is what the attorney gets. Fees is what we receive to generate revenue. So that's why it's two purposes of it's being important. One for us to receive revenue and then two, for the attorney to get paid. So what they do is if there's anything that they want to dispute then we have another department which is called the billing department. Any dispute on any time that is rendered for them then we then reach out to the billing team and work with them to try to get that corrected so we can make sure the invoice is correct.