Managing accounts receivable is a time consuming and sometimes tedious task, especially if you’re an A/R clerk in a company whose procedures are built on manual A/R managment processes. A large majority of companies of all sizes rely on spreadsheets, aging reports, and functionality in their ERP and accounting systems to help them manage accounts receivable. Those companies are, according to a recent study conducted by Lab42, wasting a significant amount of time that could be better spent growing their businesses. Continue reading
In recent blogs, we have covered a number of topics, suggestions, and best practices to help you improve your accounts receivable management processes. If you have been following our blogs on the topic, you have:
1. done your research
2. set accounts receivable management goals.
3. hired & trained the right people for a strong and effective collections team.
4. you’ve defined your credit and collections processes, policies, and procedures.
The next step is to pull all of this information and work together into a system so that it’s manageable and so you optimize your efforts by using technology to streamline the process. Continue reading