“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.
How to Create an Aging Report & Formulas in Excel
Aging Report Cheat Sheet No one said using Excel is easy. In fact, it can sometimes make you feel like you’re sitting back in high school Algebra with those long string of parenthesis and
SIGNS YOUR ORDER TO CASH CYCLE IS BROKEN
The order to cash cycle is what keeps a business running. It is literally the process in which all for-profit businesses work off of. From when an ordering process starts until the cash is
THE NEXT GENERATION OF CREDIT MANAGERS
If you ask a young kid what they want to be when they grow up, the answers can vary. Some will give big dreams such as becoming an astronaut, the president, a lawyer or a
IMPROVING THE INVOICE TO CASH PROCESS
There are many steps that go into finalizing the sale of a product or service; there is pricing, then quote creation, negotiation, approvals, and contract and order management. Once all of the work is done
5 REASONS YOU NEED BETTER CREDIT AND COLLECTIONS MANAGEMENT
An overwhelming amount of small businesses are relying on their ERP system for credit and collections management. Although ERP systems can give great insight to other areas of the business, they really aren’t made
TIPS AND TRICKS FOR QUICKBOOKS INVOICING
QuickBooks is an extremely helpful tool to help companies with their invoicing and accounts receivable. It allows businesses a way to store contact information, account information and amounts due in one place. However, as companies
HOW TO AVOID INVOICE FACTORING
Most B2B businesses have a similar and common problem: trouble collecting on invoices, leading to a lack of cash flow. There are a couple different ways of trying to resolve this issue, one of
WHY YOU NEED TO EMBRACE INVOICE SOFTWARE
The initial push back against using technology in accounting is that it will eliminate many of the positions that exist and replace people. Although accounting technology can eliminate tasks, it is simply a tool to
HOW TO USE LIEN WAIVERS WITHOUT LOSING YOUR RIGHTS
A lien waiver form in the construction industry is quite common. It is a way for entities to release their right to a mechanic’s lien on the property, which can help cash move more quickly
HOW TO REDUCE RECEIVABLES MANAGEMENT TIME AND COST
Most people assume that if you want to see good results, you simply need to put in more hard work. Being a hard worker is always a great ideal to strive for, but there is
HOW TO CREATE A RELATIONSHIP BETWEEN CREDIT AND SALES
For some reason, the defacto relationship among credit professionals and sales representatives at companies tends to be hostile. Over the year, a rift was caused among these two groups and it has held strong for
THE DO’S AND DONT’S OF CASH FLOW MANAGEMENT
Managing cash flow is one of the most important areas of a business. No matter how many sales you make, if you aren't collecting on those accounts you simply won't have any way to actually
WHAT YOUR ACCOUNTS RECEIVABLE PROCESS SHOULD INCLUDE
Setting up and using an accounts receivable process can make a world of difference in your day to day collection efforts. Without one, the collection process becomes unorganized and chaotic. It’s hard to keep up
4 ACCOUNTS RECEIVABLE MANAGEMENT FAILS
Our company works with all kinds of organizations who operate across various industries, from small companies to multimillion-dollar enterprises. In our experience working with so many different kinds of companies and learning how they