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These reporting features also help businesses predict trends and make more informed strategic business decisions. CRM, ERPs, accounting software), youll have access to the most accurate payment data, more efficient payment reconciliation, customer information and communication records.
” This junk AR comes in a variety of forms, such as: Short payment/deductions Debit memos Unapplied credit memos Unapplied cash Late payment fees and other surcharges Early payment discounts taken but not deserved Clutter obscures the true amount a customer owes and causes confusion.
For example, some might prefer to pay in person via credit or debit card. Credit management and monitoring. Send onlinecreditapplications to existing and potential customers to evaluate customer’s creditworthiness. Disputes and deductions.
It usually includes information such as the customer name, invoice details, amount due, outstanding balances and the aging categories (e.g. AR aging reports provide concrete information that can be used to take action. Disputes and deductions. Credit management and monitoring.
With a self service payer or customer portal, customers also don’t need sensitive information such as your bank account details. Integrate with external credit rating agencies and other reputable sources to gain better understanding of the creditworthiness of your customers and prospective customers. Disputes and deductions.
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