People who have to make collection calls don’t always know how to approach the call. They may not have their responses ready for the questions or excuses that the customers put forth. There are methods of requesting payment on the phone that can work very well. However, some methods will not achieve the response your […]
Credit and Collections
Many companies utilize an early payment discount when requested by suppliers. However, the tool has the potential to do far more for your company. It can help to improve the status of the accounts receivable department. The discount tool is a popular and viable strategy that can help to get payments on time, lower the […]
Sometimes, customers don’t pay on time. Often, the fault lies with the customers. However, there’s a chance that the invoices you’re creating and sending could have a hand in this problem. Over the years, we’ve seen that companies are taking longer to pay their receivables. Instead of 30 days, it ballooned to between 45 and […]
Though online portals are intended to simplify invoice and payment processes, they may actually be spurring problems that impact your A/R and A/P teams.
Finance teams can expect the slew of local sales tax rate increases that have occurred recently to keep pace for the rest of 2020.
Time really flies when your finance department is busy charging, collecting and paying more sales tax, thanks to legislative changes.
If you have any smaller businesses in your customer base, you’ll want to check out some new cash flow benchmarks. And they come courtesy of a recent survey on cash reserves of firms with 100 employees or fewer by Expertise.com Small businesses were asked last month about their present cash reserves in the midst of […]
Your finance department probably has some trading partners that are fairly hands-off … and others that require more attention from A/P and A/R.
Take a look at those agings reports – you should be seeing the number of past-dues going down. Small businesses delinquency rates have dropped across several key buckets in recent months.