Cougar Collection Agency

COUGAR COLLECTION AGENCY &nbsp5

CougarCollection Agency

CougarCollection Agency

Issues

Thereare varied issues that come up in the cougar collection agency.First, it is noted that there is no connection between the variedrecords in delinquent files, not to mention the fact that the cardswere misfiled. On the same note, it is normal for the entries to bekept for more than three days before being posted into the variedfiles. This is, undoubtedly, bound to result in a misrepresentationof the true financial position of the company. This is worsened bythe fact that there were numerous instances where the entries in theaccounts were erratic, and the disobedience of the credit collectorsin forwarding files as would have been required so as to streamlineactivities in the company. The fact that Jim Lake, who is the ownerof the agency does not have a proper comprehension of the internalcontrols in the company.

Facts

Oneof the key problems plaguing the company revolved around the highturnover of the clerical personnel. Irrespective of the magnitude ofthe company, research has shown that the departure of any employee inan unexpected manner would disengage the company and derail some ofthe operations. It is, therefore, not surprising that the company ishaving numerous erratic entries in the files, and even omittedentries. On the same note, it would not be surprising that entriestake that long before they are posted in the in the relevant records.Essentially, this would imply that there are other problems wellbeyond what has been presented. This could be pointing to a decreasein the employee satisfaction in the company, probably as a result ofrelations between the juniors and senior employees, or even thepayment structures of the same (Canzer,2006).It is also questionable whether the turnover is as a result of thesackings or voluntary resignations, particularly given theunceremonious sacking of Melvin Cooley from the company without evenhaving his efforts to streamline the operations of the companycompensated for the entire year that he had been affiliated to it.

Inaddition, it is noted that there is a breakdown in communication andsupervision between the varied structures of the company. This wouldexplain why the backlogs were never really investigated andeliminated before they can hinder the operations of the company. Onthe same note, it is noted that the assistant manager usuallysearches the payment register and determines the percentage that isto be returned to customers before making the payments and theentries. This may seem like a proper and efficient system forcollection. However, it is questionable why the payments that aremade are not immediately entered and the percentages calculatedimmediately so as to avert the possibility of having any omissions ormistakes in the posting of the entries (Canzer,2006).It is also questionable how the assistant manager determines thepercentages that are to be given back to the customer or firm thatassigned the company.

Conclusions&amp Recommendations

Streamliningthe processes of posting the entries is imperative so as to safeguardthe proper and timely posting of entries. In this regard, it would beimperative that the individuals assigned to the accomplishment ofparticular cases are placed in pairs, with one counter-checking theentries that are posted before they are eventually approved. This isaimed at eliminating two problems that are in the present in thecompany. First, the problem of having the high turnover disrupt thefunctioning and resulting in an increase in mistakes or errors in theposting of entries. More often than not, mistakes are made ininstances where the individuals accomplishing particular tasks do notget to finish their work rather they have other people getting intothe fray halfway into a particular project(Frigenti&ampComninos, 2001).The new individuals would have a problem catching up or evendetermining which areas they should pay attention to or where theremight be mistakes, in which case having two people working on thesame project with each one counterchecking the postings of the otherso as to eliminate the possibility of mistakes. This also makes iteasy to transit from a particular worker to another in the long-term.

Inconclusion, it is evident that the cougar collection agency has quitea number of problems in the manner in which its entries are made, aswell as the conduction of business. This should be easy to note rightfrom the manner in which Mr. Cooley was hired and fired from thecompany. It may be the case that the workers are disillusioned withthe operations of the company to the extent that they leave it at ahigh rate in instances where other opportunities crop up (Hotchkiss,2010).Further, the disillusionment becomes even more pronounced given themanner in which they carry out their job, making numerous mistakesand even omitting entries or taking too long before posting them. Inthis regard, streamlining the working environment and having peoplecountercheck each others’ work, alongside enhancing the workingconditions would be imperative.

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References

Canzer,B. (2006).&nbspE-business:Strategic thinking and practice.Boston: Houghton Mifflin.

Frigenti,E., &amp Comninos, D. (2001).&nbspThepractice of project management: A guide to the business-focusedapproach.London [u.a.: Kogan Page.

Hotchkiss,S. (2010).&nbspBusinessContinuity Management: In Practice.Swindon: British Informatics Society.

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