“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.
Getting Executive Buy-In on Acumatica AR Automation
Many companies are moving to cloud-based ERP solutions so they can function efficiently, and provide an enhanced customer experience in the new normal. They recognize that cloud-based ERP solutions are needed to support the paradigm
How to Evaluate AR Automation for Acumatica ERP
Integrating AR with the Acumatica ERP platform is a smart decision that will increase efficiency, reduce DSOs and accelerate cash flow. The first step is to evaluate AR automation for the Acumatica ERP. In order
AR Automation for Acumatica ERP
AR automation can be easily integrated with the Acumatica ERP platform with the solution provided by Lockstep Collect, an Acumatica partner. A seamless integration of AR automation from Lockstep Collect can reduce average days delinquent
Creating a High Performing AR Department Using Customer Feedback
It is a lot easier and less costly to retain customers than replace them. The key to retaining customers is to provide a customer experience that reinforces a positive attitude in their minds of your
Designing an Optimal Customer Experience Using Self-service
The pandemic caused a paradigm shift in work habits. Many companies were forced to close their offices and ask their employees to work remotely. If you wanted to reach customers easily you needed to rely
How to Map Out Your Customer AR Journey
Retaining customers and building strong relationships depends on their success journey. If you know your customers and what works best for them, then you can help your customers get the most of their relationship
Why Your AR Process Should be an Extension of Your Customer Experience
Replacing customers is much more difficult and expensive than keeping existing customers happy. Successful companies focus on the total customer experience to make sure that customers are happy with their relationship.Total customer experience should include:Customer
How to Handle Customers Not Paying On-time Due to DPO Terms
Sometimes customers have a Days Payable Outstanding (DPO) policy. DPO policies are used to conserve cash and reduce borrowing cost. In these situations it doesn’t matter what payment terms are, customers will pay according
How to Resolve Customer Late Payment Due to Cash Flow Issues
Late payment due to cash flow issues caused by the pandemic have increased, particularly in the industries hardest hit by the coronavirus. The economy has recovered somewhat, but it still has a long way
Eliminate Delayed Payments via Check
If your customers’ only option to pay is via check, then you are delaying payments unnecessarily and reducing the velocity of cash flow. Payments via check can delay payments for weeks, increasing borrowing costs
How to Avoid Disputes Slowing Down the Payment Process
Customer disputes are often the reason for late payments. They can be why your DSO is increasing without any good explanation. Disputes are the silent problem that you don’t learn about until well after the
How to Combat Slow Payments Due to AP Approval Issues
AP approval issues can slow payments. Customer AP departments want to pay you on time, otherwise they could have problems with auditing, vendor relationships and cash budgeting/forecasting. Sometimes the reasons for slow payments are innocuous
The Pandemic Amplified Issues with On-Time Payments
More than a year has passed since the COVID-19 pandemic emerged in the United States. The pandemic wreaked havoc on the economy and turned the normal way of doing business upside down for many
Your Email Issues Are Causing Your Late Payments
Don’t be lulled into assuming that your AR team is not meeting objectives simply because customer AP departments don’t want to make payments on time. Customer AP departments are not always or entirely the
