“Our DSOs are down and we have beaten our collections targets for two quarters in a row. I attribute that to ramping up on Lockstep Collect and it’s automation.”
See how accounting departments are succeeding with Lockstep Collect.
Reducing DSO: The Strategy
DSO can suck up your company’s much needed cash resources and keep your company in a cash trap. Manual collections and accounts receivable create bottlenecks that allow DSO to grow and hamper your AR
Reducing DSO: The Bottleneck
Is your company in a cash trap with too much money tied up in DSO, and you can’t seem to reduce DSO no matter how hard your AR team tries? If your answer is
Reducing DSO: The Leading Indicators
DSO expansion can suck up the cash you need to operate and grow your business. If you are not careful you may end up in a cash trap that can lead to: Higher borrowing
Reducing DSO: The Benefits
Business is good. Orders and shipments are soaring. But, you are running out of cash to pay suppliers, employees and operating expenses. Sound familiar? You may be caught in a cash trap. Cash is
7 Powerful Accounts Receivable Sequences That Will Convert to Cash
Proactive and successful management of accounts receivable requires the use of automation and data. These resources can be used to guide your customers smoothly and efficiently through the accounts receivable process. Accounts Receivable Sequences –
How to Make an Effective Accounts Receivable Executive Dashboard
Executives are on the go 24/7. They need to know the pulse of their companies on a daily basis. Executives don’t have the time for meetings, phone calls, emails or hunting around on their
Why You Should Be Reporting On Invoice Disputes Regularly
Invoice disputes can be a huge time suck for your AR team, delay invoice payments, be costly to resolve and cause you to miss your AR KPI goals. Invoice disputes can result from any number
How to Set Quantifiable AR Goals
As the end of the year approaches you are probably working on plans and budgets for next year. Before you start to set goals for your AR department and individual team members spend some
Why You Should Be Setting Goal Tracking For Your Accounts Receivable Team
Setting goals for your accounts receivable team can help you to better manage them, and it is good for your team members. Setting goals helps you to manage your AR team by: Informing your
KPIs You Should Be Using to Compliment DSO
Are you tired of riding the DSO roller coaster? Tired of wide swings in DSO as sales spike or hit a seasonal pattern? Tired of having to explain why you missed your DSO KPI
5 Strategies for Optimizing Your Accounts Receivable Processes
The key to accounts receivable optimization is making sure that basic collection and AR processes are designed and working the way they should to achieve your KPIs. A central ingredient to optimizing accounts receivable processes
How to Let Customers Self Serve Accounts Receivable Documents
More and more customers, particularly millennials, want to use self-serve customer portals to manage their accounts with suppliers. They don’t want to have to spend time contacting and speaking with a member of your
4 Must Have Features In Your Customer Payment Portal
Customer payment portals have become a necessity to meet collection KPIs, reduce processing and collection costs and give your customers the self-serve conveniences they want to manage their accounts. Providing a customer payment portal makes
Why Every Customer Payment Portal Should Offer Magic Link Authentication
Password protection is essential to maintaining the security of your accounts, but it comes at a price and can be broken. Maintaining passwords and logins is growing more challenging as hackers increase their sophistication. This