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It also gives companies the ability to move away from manual tracking in spreadsheets, to a real-time dashboard, which saves time and gives a full and reliable visualization of the current state of collections. So, how can using a collection dashboard help, and why is it so indispensable as a growth tool? CashForecast Accuracy.
Before companies had dashboards and other features of automated accounts receivable tools, finance professionals did all the heavy lifting. Present: Finance Operations. For example, it sends out invoices, automates conversations, calculates KPIs, and can conduct cashforecasting for different scenarios.
As a CFO or member of the accounts receivable (AR) team, one of your top priorities is ensuring your business maintains healthy cash flow. However, traditional cashforecasting methods can be prone to errors, lack accuracy, and often require manual effort that consumes valuable time. Some of these challenges include: 1.
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