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How to Automate the Collection Process to Eliminate Manual Tasks

Gaviti

Ensure Buy-In From Key Stakeholders After you understand your collections team’s needs, you’ll need to present them to your CFO and any other important stakeholders to get them on board. Although different A/R solutions deliver different metrics, cash balance and days sale outstanding only scratch the surface of measuring performance.

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New A/R Collections KPI Dashboard Features January 2023

Gaviti

ADD (Average Days Delinquent) Next, we have the ADD (Average Days Delinquent) metric. This KPI measures the number of days that a payment is overdue, calculated by subtracting the BPDSO (Best Possible Days Sales Outstanding) from the DSO (Days Sales Outstanding).

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Gaviti New Features – DSO benchmark, A/R Teams, Partial Payments, Tagging and more.

Gaviti

The A/R team screen presents relevant KPIs for each user, giving controllers, AR managers, and VP of finance a full picture of their team’s performance. This KPI is calculated by dividing the current accounts receivable by billed revenue and multiplying that number by the number of days.

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Collections Dashboard: Why Is It an Essential Growth Tool?

Gaviti

Average Day Delinquent. The average day delinquent measures how long it takes customers to pay their invoices. The data A/R dashboards present can help managers make informed decisions about payment plans, late fees, and other aspects of the collections process.