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
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 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
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
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
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
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
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
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
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
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
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
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