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Cash Flow – A B2Bcredit card program enhances cash flow through a reduction in the cycle time it takes to close a transaction, whether it be at the point of purchase or a defined payment date, by eliminating float time through the United States Postal Service.
Good credit management supports consistent cash flow, smooth payment collections, customer satisfaction, and much else. It matters even more for companies working in the business-to-business (B2B) space. At its core, credit management is the caretaking of a company’s financial health. What is B2Bcredit management?
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). . The post Creating a Credit Plan appeared first on Lockstep. Learn More.
Most recently that meant talking with a group of leaders in the B2Bcredit industry as part of NACM South Central’s annual “Day at the Races” event in Louisville, KY. How can AI help decrease DSO (Days Sales Outstanding)? AI can help decrease DSO by improving collections and credit management processes.
The massive influx of data from various sources around the globe – and do to so with fewer employees, especially in the B2Bcredit world – has made it imperative for companies to adopt AI to analyze and act upon this information efficiently.
It is captivating the attention of CFOs, Controllers, Finance VPs, Accounts Receivable (AR) management, and senior B2Bcredit professionals alike like few other trends have in the last year.
This technological advancement represents a significant departure from the manual, relationship-based credit assessments of the past, offering a more efficient and inclusive financial landscape.
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