Remove AR Automation Remove Credit Management Remove DSO
article thumbnail

The Dynamics Behind AR Automation

Your Virtual Credit Manager

My first exposure to the power of accounts receivable (AR) automation came in 1990 when I was credit manager at ERICO Fasteners, a mid-market, specialty metals manufacturer. The first month after we automated a few basic features to supplement our accounting package, we realized an increase in cash flow of 30 percent.

article thumbnail

AR Data Management, AR Automation, & Accelerating Cash Flow

Your Virtual Credit Manager

Email us to learn how the experts at Your Virtual Credit Manager can help you clean up your AR Ledger and increase cash flow by improving your Collection Process. The first month after we automated a few basic tasks to supplement our accounting package, we realized an increase in collections of 30 percent.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

It's Time for a Layered Approach to Collections

Your Virtual Credit Manager

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation. For a more in depth discussion of systematic collections, click here.

article thumbnail

Creating a Credit Plan

Lockstep

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . External and Supporting Data . Learn More.

article thumbnail

What is AI-powered Accounts Receivable Automation Software: How Does it Work and Benefit Businesses?

Emagia

Key Challenges in AR (Accounts Receivable) Process An efficient and useful accounts receivable automation software must address the following challenges in OTC/AR processes, to achieve the desired cash flow and profitability results.

article thumbnail

Three More Ways to Reduce Your Outstanding Accounts Receivable

Lockstep

It also cross-trains employees while providing a clear decision-maker for key credit and collection responsibilities. . Manage Your Team Resources. Credit managers need to effectively manage their teams’ resources. Leverage AR Automation. Enter Award-Winning Lockstep . Start with Lockstep Today!

article thumbnail

Three Ways to Reduce Your Outstanding Accounts Receivable

Lockstep

Accurate and timely information is important for internal credit and collection professionals but also for customers. AR teams need information to help prioritize activities, to provide information to customers, and to back-up critical decisions and conversations. Leverage AR Automation . Enter Award-Winning Lockstep .