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Companies tend to offer more favorable terms to customers with higher credit scores, such as higher credit limits or longer payment terms while imposing stricter terms on higher-risk customers with lower scores. Monitoring CreditRisk : Companies may use credit scores to monitor the creditrisk of their existing customers.
Under-performing AR has the potential to create a cash flow crisis that can shut down your business in very short order. Without effective AR management, your cash flow is subject to entropy as the ARages, as well as to the shocks caused by customer defaults.
What Is an ARAging Report? As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (A/R) aging report. ARaging reports provide concrete information that can be used to take action. Credit management and monitoring. Customer invoice distribution.
Proper accounts receivable management helps in reducing the days sales outstanding (DSO), thereby improving liquidity and profitability. Artificial intelligence (AI) and machine learning algorithms can predict payment behaviors, assess creditrisks, and optimize collection strategies.
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