We know you’re busy and no matter how important improving your accounts receivable is, it can be hard to find the time and, let’s face it, the energy, to sit down and sift through the countless articles and resources about best practices in accounts receivable collection. To make your life a little easier, we’ve compiled our top 5 most downloaded accounts receivable white papers to help you speed up the research process so you can put these best practices into place and start seeing results.
Below are short descriptions and links to our top 5 most popular resources for best practices in accounts receivable collection to help you get paid faster:
1. Free Business Credit Application Template: The business credit application form includes essential information for each business credit application to determine how much business credit to extend in relation to business credit limits and business credit terms as well as additional information to help qualify the business credit application candidate. The business credit application template may be modified and adapted as a general business credit application template for a variety of businesses and industries.
17 Things You Should be Doing Right Now to Reduce Outstanding Accounts Receivable:There are some fundamental and easily-deployed tactics that are sometimes forgotten in the rigmarole of daily activities – tactics and concepts that every credit department can use to reduce outstanding receivables. This white paper highlights these 17 points with descriptions and suggestions related to implementation of each strategy and examples to illustrate how they can be integrated with manual and automated systems such as credit and collections management (CCM) applications
6 Steps to Develop Credit Policy: The goal for a Credit Plan is to clearly define these elements so that employees conform to documented steps and procedures designed to improve all related business processes. Many companies struggle to formalize policies due to ad-hoc credit management from salespeople, lack of critical financial information, or simply due to time constraints and higher priority projects. When we take time to look around, we suddenly see the importance of developing a formalized credit policy and we plan covering rules, regulations and procedures to manage daily operations, approval workflow, optimize our resources, reduce credit risk, and improve cash flow.
This document outlines six easy steps to developing a world class credit policy and collections action plan to help you gain significant advantages in your business.
Revenue Cycle Management: Increasing Control of the Order-to-Cash Process: This is a report provided by PayStream Advisors and is focused on AR automation solutions that leverage workflow, document management, and collaborative technologies to boost receivables performance. The Revenue Cycle Management Report features insights on The Current Accounts Receivable Environment, Accounts Receivable Challenges, Drivers of Accounts Receivable Automation, The Benefits of Revenue Cycle Management, Emerging Technologies, And More!
How to develop Killer A/R Collection Letters, Call Scripts, and Email Templates: Communication frequency and the quality of those communications play an enormous role in a company’s ability to quickl and effectively collect receivables. This white paper provides everything you need to consider before you start building out email templates, collection letter templates, and collection call scrips. Sample templates, documents and scripts are provided at the end of this document for examples to get you started. In addition to sample templates, documents and scripts, this document helps you Define accounts receivable procedures, Set goals, Identify invoice problems, Measure your results, and more.
These are our top 5 most downloaded resources for best practices in accounts receivable collection, but we have many more resources that you may find extremely helpful in your quest to improve accounts receivable collection in your company. Visit our free resource library to read more white papers, watch educational videos, check out software demos, and more.