This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
My first exposure to the power of accounts receivable (AR) automation came in 1990 when I was creditmanager 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.
To continue reading and learn how to manage high- and low-risk customers who chronically pay late, you must be a paid subscriber. Your Virtual CreditManager is a reader-supported publication. Learn More About Credit Reports Please share this newsletter with your small business customers.
Email us to learn how the experts at Your Virtual CreditManager 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.
Automating accounts receivable (AR) is a strategic move for businesses aiming to enhance cash flow, reduce manual workloads, and improve overall financial efficiency. Introduction to Accounts Receivable Automation What is Accounts Receivable Automation?
For B2B businesses, creditmanagement is essential for accounts receivable (AR) management success. Proper, healthy creditmanagement allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . External and Supporting Data . Learn More.
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.
It also cross-trains employees while providing a clear decision-maker for key credit and collection responsibilities. . Manage Your Team Resources. Creditmanagers need to effectively manage their teams’ resources. Leverage ARAutomation. Enter Award-Winning Lockstep . Start with Lockstep Today!
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.
Benefits of Accounts Receivable Automation Software Whether your goal is to automate the collections process with accounts receivable automation software or scale it as your company grows,you’ll want to look for a solution that offers the most benefits for your business. Gaining better visibility into the A/R process.
Digitalizing manual AR processes can be the single biggest improvement an AR team makes to its workflow, though care must be taken to make changes carefully and deliberately, lest the transformative nature of automation disrupts more processes than was originally intended.
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 ARAutomation . Enter Award-Winning Lockstep .
For an overview of the different types of O2C automation solutions and why they work, check out The Dynamics Behind ARAutomation. Below are the key advantages: 1. Your Virtual CreditManager is a reader-supported publication. Do you need help improving cash flow?
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content