The practice of assigning funds to different projects and initiatives within a company is known as budgeting. It is a crucial instrument for efficient organizational planning and control. The budget aids in making sure that resour...
Conventional deduction usually makes choices based on historical trends by analysing prior performance using specified criteria and organized data. Contrarily, artificial intelligence (AI) analytics makes use of machine learning a...
Operational inefficiencies in Accounts Receivables Management hinders a business’ cash flow and overall financial stability. Here’s a look at some top AR Inefficiencies, or should we say ‘Pain Points’ of the AR Management Process ...
In today’s age of B2B relationships where the duration of the relationship is critical, Service Recovery Paradox plays a pivotal role. The Service Recovery Paradox occurs when a customer thinks highly of a company after it has cor...
The practice of dunning involves organisations attempting to retrieve money that their clients owe them. In the English language of the 17th century, it came from the verb "dun," which meant "to demand payment of a debt."...
The Days Sales Outstanding (DSO) and sales turnover are interrelated financial metrics that together provide insights into a company's efficiency in managing its accounts receivable and generating sales...
Many advanced accounts receivable (AR) automation tools have started offering features that allow you to create customized customer strategies based on invoice aging or total outstanding amounts and so on. These features typically...
Strategies for B2B credit score provide an effective tool for navigating the difficulties of B2B collaborations. However, why do they matter so much in business? This is because, in the current corporate environment, it is essenti...
To make sure that all the nodes in the Account Receivable life cycle are done in accordance with recognized standards, compliance is used. Compliance establishes a norm to prevent fraud, dishonesty, and misconduct....
Managing an organization's accounts receivable is one of its most important tasks. It guarantees that the business promptly and physically collects the money it earns on paper. Accountants use a variety of performance indicators t...
DNA phenotyping is a process that uses genetic information to predict physical characteristics of an individual. Scientists identify specific genes or regions in the genome associated with specific physical traits. For example, ce...
You're entirely correct if you think that automating your procedure for managing accounts receivable will significantly alter your company, but that’s no reason to be worried! The difficult part was to realize that a change is nec...
Customer-Centric AR Strategies are set to become the norm of the day: In the B2B world, customer experience has been identified as the most critical factor for 89% of buyers. You would be surprised to know that AR functions have m...
In today’s fast-paced, competitive business environment, businesses need to continuously communicate with their customers in order to improve customer engagement, lower operating expenses, and most importantly, streamline workflow...
A formal purchasing process is essential for all businesses, and even more for businesses that wish to scale up without any sudden roadblocks. It, not only, facilitates quicker and more effective purchasing, but also offers transp...
In conventional AR Management Systems, sending out manual reminders to customers about overdue payments and sending out dunning letters are highly dependent on human intervention. The things that helps your AR Teams follow this pr...
The best Accounts Receivables Strategy involves tracking of open receivables before they become delinquent and cause severe cash flow problems. So, if your organization is facing cash flow issues, you know your AR strategy is eith...
Data Analytics for Predictive Insights is assuming far greater importance when it comes to efficiently managing the Accounts Receivables Process. From forecasting customer payment patterns, to spotting possible credit concerns to ...
Cloud Computing and the use of Cloud-based Solutions, both in the current context and in the future, is being ranked among the most significant trends in the management of Accounts Receivable. Cloud-based AR Solutions are becoming...
When it comes to Accounts Receivable Management, delayed collections, higher DSOs, bad debts, inaccurate or uninformed manual forecasting methods, spreadsheet errors, and lack of 360o visibility are an unfortunate reality that man...
This would be the question on the minds of most of us because when hear the term ‘blockchain’, we almost immediately think of cryptocurrency (Bitcoin, Ethereum…). Well, there’s more to blockchain than just cryptocurrency. In fact,...
The reason is that while ERPs will provide AR data to your individual teams, but they will not be able to provide data at the level of complexity as AR Automation Solutions can. AR Automation Solutions provide details data and ana...
Efficiently and effectively managing the accounts receivable process is a tedious and a time-consuming job. For CFOs and their finance teams, optimizing accounts receivable is one of the three cornerstones of efficient working cap...
Managing accounts receivable is an integral part of running a business. However, it can be a tedious and time-consuming task. Reliance on manual Accounts receivable processes comes with its own issues and pitfalls, ultimately lead...
Accounts Receivable Management, in simple words, is the practice of obtaining monies from clients/ customers for products/ services within a given period of time. Organizations use AR Management to ensure that every step involved ...
The Accounts Receivable function, for any organization, is well placed to strengthen its cash flow, improve its working capital and even contribute significantly to customer satisfaction. However, efficiently managing their Accoun...
Effective accounts receivable management is critical to the success of any business, as it helps to improve cash flow, reduce bad debt, and increase customer satisfaction. As businesses grow, effective management of accounts recei...
Every CFO likes to keep his organization well capitalized. Hence Working Capital Optimization is a top of the agenda item for any CFO. A well-capitalized firm is the mark of a robust & efficient organization. While it sounds very ...