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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
Automating accounts receivable processes will result in a number of benefits, which will justify the cost of the investment many times over. These benefits include: Increased cash flow Lower costs Improved efficiency Better customer
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
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
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
The time you spend coaching and mentoring your AR team is time well spent. The positive results you reap from fostering and nurturing your team’s growth will pay for your time over and over
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
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
The key to optimizing accounts receivable is making sure that the basic processes in accounts receivable and collection you use are designed and working the way they should to achieve your AR and collection
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