Having an accounts receivable management problem can be one of the most frustrating areas of business. Customers aren’t paying what is due, which is causing your business to suffer and fall behind. This can lead to consequences as severe as having to shutter the doors on your company. Before it gets that far, there are some tell-tall signs that you have an accounts receivable management problem. So what are some of those signs? Check out our infographic below:
10 SIGNS YOU HAVE AN ACCOUNTS RECEIVABLE MANAGEMENT PROBLEM
- You have to factor bad debt write-offs into new prospect proposals.
- You have to increase your credit terms in order to reduce DSO.
- You send customers invoices after the due date.
- You don’t remind your customers to pay on-time because you don’t have time yourself.
- Your ERP system does not help you manage your credit and collections.
- You have more A/R Over 120 Days than Current.
- Credit and collections is seen strictly as an accounting function and not integrated with your sales team.
- You have more fax numbers for your customers than email addresses.
- You don’t call your customers until they reach 120 Days past due
- You call past due accounts only when you need to make payroll
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