Unlocking Trapped Cash: Bill Ferrier on Improving Cash Flow, Reducing DSO, and Getting Paid Faster

What if the cash your business needs isn't sitting in the bank—but is already sitting in your customers' accounts? In this episode of Telling My Story, I sit down with Bill Ferrier, founder of Ready Set Collect and a credit and collections professional with nearly 40 years of experience, to discuss one of the most important yet often overlooked areas of business: cash flow and accounts receivable. Bill explains why businesses can struggle financially even when they are profitable, how overdue invoices can tie up valuable working capital, and why improving your collection process can have a significant impact on cash flow and Days Sales Outstanding (DSO). We explore how companies can train their in-house collection teams to overcome payment objections, recognize early warning signs, ask better questions, and get customers to pay without damaging valuable relationships. Bill also shares practical strategies for dealing with difficult accounts, improving collection conversations, and turning collections from an uncomfortable business function into a profitability and cash-flow opportunity. Whether you're a business owner, entrepreneur, finance professional, sales leader, or anyone responsible for getting customers to pay on time, this conversation provides practical lessons you can apply to strengthen your business. Connect with Bill Ferrier:🌐 http://readysetcollect.ca/ If you enjoyed this episode, follow Telling My Story, leave a rating and review, and share this conversation with another business owner who could benefit from stronger cash flow.