Correct - a growing AR isn’t necessarily bad - it’s the mix - if you collect older and replaced by newer that’s fine even if it increases on volume - but you can’t have a years worth - aging and write offs become an issue.
I warned about slow paying dealers early on - I Years (emphasis on years) of experience trying to collect from them- so I do understand - that is why it has to have a laser focus on it - to keep up to date and control