Accounts receivable typically isn’t classified as optimized, cutting edge, strategic or progressive department. It’s simply the department that collects money. Yet, if you walk into any business school around the world, you hear professors preaching “strive to get paid today & pay tomorrow.” As a business, you want to be cash greedy in your A/R department. Here are two reasons why you need to be CASH Greedy:

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Automating your A/R process will reduce inefficiencies. Similarly, it will eliminate manual data entry errors and reduce transaction time. Adopting key performance indicators (KPIs) and defined capital metrics are also important.  For instance, by adding standard revenue and profit tracking reports, you can easily have a clear picture for days sales outstanding (DSO), who is paying late, number of invoices passed through the system, collections rates made on bad receivables and collections made, your business gains the freedom to track your performance in real time.

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3 Accounts Receivable Realities

Written by Gideon Williams | Thu, Feb 15, 2018 @ 05:24 PM |

Inefficient Accounts Receivable given the cost of capital, increases payment-processing fees, increases Days Sales Outstanding (DSO) and the potential of bad debt. Bad debt is the final straw of a painful customer transaction meaning; your company will never collect that revenue. This factor alone requires your attention to Accounts Receivable management, yet accounts receivables often are not prioritized as a revenue driver because the sale has been booked.  In reality to complete the sale cycle, a company must collect the money.

At a Macro level - leaving revenue on the table is painful, but not nearly as painful as funding a customer’s purchase with no return thus trapping receivables on the balance sheet. Lowering the days to collect the cash thereby improving working capital is a catalyst to improved operations.

A solution to increase liquidity and expand flexibility to invest in growth or product development, decrease bad debt and maximize shareholder returns is found by using an Account Receivable Automation cloud-based platform.

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4 Initiatives for 2018's Most Influential CFOs

Written by Chelsea Freitas | Thu, Jan 18, 2018 @ 03:57 PM |

According to a detailed three-part survey of CFOs conducted by Ernst and Young*, CFO's feel now, more than ever before that there are four different initiatives or tasks they must perform in order to be effective. The importance of each of these four had become a higher priority compared to just three years earlier.

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The 12 Ways to Use OnPay Solutions to Improve Accounts Payable and Accounts Receivable for better CASH Management

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