Difficulty keeping up with your collections?
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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
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
Customers are pressed for time just as you and your AR team are. If you are hard to pay, i.e. offer no customer payment portal or online payment options, then you are likely to
Customer disputes and the resultant charge-backs and unauthorized deductions are a major problem for certain industries such as distributors and manufacturers selling to retailers and construction contractors. Disputes can be very time consuming, costly
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
Are you still manually processing customer payments? If your answer is yes, then you are missing out on one of the best accounts receivable automation projects available. A customer payment portal can be integrated with
One of the most widely used AR KPIs is Days Sales Outstanding or DSO. It is a measurement of the number of days of sales outstanding based your AR balance at a point in
AR automation can increase your collections, reduce costs and provide your AR team with a more fulfilling work environment. The best AR automation features provide your customers with self-service options so they can pay their
You can achieve your collection KPIs, if you understand how your AR team engages your customers influences their behavior. Carefully crafted collection procedures based on data driven analysis of customer behavior will increase your collections
Is your AR team achieving collection goals? If it isn’t, it could be that the collection techniques they are using are not effective in influencing customer behavior. If you want to increase collections, you need
Do you sometimes feel that your AR team is always playing catch-up with collections instead of using data to drive collections? It could be that you need a better understanding of what KPIs drive collections,
All AR managers want their teams to focus their efforts on activities which will improve credit and collection processes and increase cash flow such as: Assisting high value customers Managing credit risks Resolving disputes Improving
If you want to simplify accounts receivable in industrial distribution, you should automate the process as much as your inventory, order fulfillment and distribution processes. You can automate accounts receivable to increase efficiency, accelerate cash
The main focus of industrial distribution is inventory management, order fill rates, transaction cycle times, low costs and satisfied customers. Not surprisingly, industrial distributors use ERP systems that focus on these areas. Accounts receivable management