Effective B2B Payment Reminders: Templates, and Strategies for Faster Payments |

Many businesses can significantly improve their cash flow by implementing more effective strategies for collections, including adopting more strategic approaches to accelerate B2B payment of invoices . One of the simplest yet most overlooked ways to enhance invoice collection is by taking a proactive approach to sending payment reminders to ensure timely follow-ups and encourage…

The sooner your business collects on its invoices, the lower your financial risks and the better your financial position. That means your accounts receivable team will want to do everything in its power to increase cash flow and reduce your DSO. One of the fastest ways to do this is via collections process automation to…

Many businesses underestimate the importance of their accounts receivable (A/R) process, assuming they’ll “get paid eventually.” This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly…

Automation delivers finance departments many benefits, including accurate predictions and insights related to revenue and sales so that CFOs and their teams can make better business decisions. Despite this, automation in accounts receivable has met its fair share of skepticism from business leaders worldwide. Some of the main concerns include change management and employee adaptability…

Whether due to error, financial trouble or the non-delivery of goods or services, disputes are unavoidable in the world of accounts receivable. Traditionally, they are managed through a lengthy, tedious manual process that lacks visibility into the process in real time. As companies scaled and these disputes increased, however, businesses started to turn to dispute…

When purchasing accounts receivable software, making the right choice is crucial for making sure your goals are met and achieving a high return on investment. There are a range of different solutions available on the current market — automated, integrated, and autonomous — that address different needs and deliver different solutions. Knowing exactly what to…

Allowance for doubtful accounts (ADA) is a financial metric that estimates the value of rendered services or goods sold that you don’t expect to get paid for. Essentially, it’s a tool used in accrual accounting as a way of tracking bad debt and potentially uncollectible accounts up front with the end goal of maintaining more…

Effective accounts receivable management is one of the most critical aspects of boosting steady cash flow for your business. With this goal in mind, the A/R team must proactively identify any issues with cash flow and seek long-term solutions before they spiral out of control. Although every business faces different challenges based on industry, business…