“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.
INVOICE COLLECTION LETTER TIPS
Also known as a demand letter, dunning letter, or past due letter, a collection letter is an integral part of your invoice collection process. The collection letter usually comes into play after the customer
CREDIT AND COLLECTIONS LAW BEST PRACTICES
In order to stay compliant with all of the laws that affect accounts receivable professionals, you have to stay on top of and aware of all the current laws. A best practice for this
THE FAIR DEBT COLLECTION PRACTICES ACT FOR ACCOUNTS RECEIVABLE PROFESSIONALS
The Fair Debt Collection Practices Act is quite possible one of the most important credit and collections laws for an accounts receivable professional to know. This act determines exactly what you can and can’t say
CREDIT AND COLLECTIONS LAW FOR ACCOUNTS RECEIVABLE PROFESSIONALS
INTRODUCTION Often times we get so caught up in the day to day activities of our accounts payable work that we forget about our continuing education. As collection representatives, it’s important to keep up
The ROI of Accounts Receivable Software
Are you struggling with getting customers to pay on-time? Download this whitepaper analyzing the most important capabilities when researching credit & collections software and how quickly you can see a return on your investment.
THE TRUTH IN LENDING ACT FOR ACCOUNTS RECEIVABLE PROFESSIONALS
The Truth In Lending Act is a protection for consumers to know exactly what they are getting into before they take out a loan, agree to credit terms or open a credit card. As the
THE FAIR CREDIT REPORTING ACT FOR ACCOUNTS RECEIVABLE PROFESSIONALS
WHAT IS THE FAIR CREDIT REPORTING ACT? The Fair Credit Reporting Act ensures that all credit information for a customer is accurate. It gives the customer an outlet to dispute information about their credit if
THE FAIR CREDIT BILLING ACT FOR ACCOUNTS RECEIVABLE PROFESSIONALS
WHAT IS THE FAIR CREDIT BILLING ACT? The Fair Credit Billing Act affects invoice disputes in the accounts receivable department. This law allows consumers to dispute a bill sent to them if they believe
WHY YOU SHOULD BRUSH UP ON CREDIT AND COLLECTIONS LAW
Often times we get so caught up in the day to day activities of our accounts payable work that we forget about our continuing education. As collection representatives, it’s important to keep up to
DAYS SALES OUTSTANDING BEST PRACTICES
Days sales outstanding (DSO) is among one of the most popular accounts receivable metrics tracked by businesses, and while it is indeed a valuable one, there is a right way and a wrong way
CAUSES OF INVOICE DISPUTES AND HOW TO HANDLE THEM
For most companies invoice disputes are inevitable and while there are many ways you can reduce the frequency of invoice disputes in your organization, you should be prepared to handle them when they do
HOW TO SAVE TIME WITH DEBT COLLECTION SOFTWARE
There are many benefits found by those who use debt collection software to automate accounts receivable, one of the biggest though is the time savings it provides. There are a vast number of daily clerical
How to Spot Good and Bad Trade References
Business trade references play an important role in creating an accurate picture of a company’s payment practices and they can sometimes be your most powerful and valuable source of information when it comes to determining
WHAT IS CASH FLOW PROJECTION?
Over and over again you are told that cash flow is one of the greatest assets to your company. Without it, your company will crash and burn. However, no one explains why this is true
