For any company that offers goods or services on credit, payment collection is crucial for maintaining financial health. Collecting these payments after sales is vital to a company’s success, as failure to collect puts the busines...
It’s often told in the folklore of Sales processes that you can’t achieve what you can’t measure! Well, I think this holds true for all things in life including AR processes where this is even more true since a sale made is only ...
The health and welfare of both the present and future generations are seriously being jeopardized by climate change, and if we don’t take cognizance of this looming challenge now, then it may be too late!...
Tired of manual payment matching headaches? Discover how AR automation can revolutionize your process. Automate data collection, accelerate matching, reduce errors, and gain real-time visibility. Streamline your AR operations and ...
In this age when India has become the hot bed of startups and with such a thriving eco-system to support the startups, it is still pertinent to remember that 80-90% of startups fail, as per a report by IBM. ...
B2B Collections: So, what's it all about? Let’s solve this conundrum today. The process of collecting unpaid invoices from businesses or firms that owe money to another business is known as business-to-business (B2B) collections....
CFOs, AR Managers, and AR Collection Teams – all have different roles to play in the entire AR management process and therefore need access to different things, different information and, of course, different set of analytics....
Most businesses track DSO as the major metric for AR management. DSO tracks the average time it takes for consumers to make all of their bill payments – early, on-time, and late. Average Days Delinquent (ADD), on the other hand, s...
Embracing automation in your accounts receivable (AR) management process will significantly transform your company for the better with increase in productivity by around 35% (as per certain studies). ...
Today WhatsApp Business API can be integrated with a variety of business tools and customer relationship management (CRM) systems, making it easier to manage customer interactions and.....
In the evolving business landscape, integrating innovative technologies in Accounts Receivable (AR) management is crucial. ...
A good collections strategy is crucial for B2B businesses to achieve better execution of Accounts Receivable (AR) management for several reasons....
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...
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."...
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...
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...