Top 6 Dunning Workflow Best Practices |

Dunning workflows are a series of automated emails and actions that A/R teams use to collect invoices from customers. Having the best dunning workflow for each customer is the key to increasing your cash flow. In some companies, the implementation of dunning workflows increases cash flow by a significant percentage almost instantly. With automated dunning…

With the right dunning process in place, your A/R team can significantly minimize the need for collection calls. While some customers only need a single email to prompt them into action, others require a more complex dunning process. The right approach should be based on a number of factors, such as the type of industry,…

As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (AR) collections aging report. Also known as “accounts receivable reconciliation,” this is a common report that offers a broad overview of a company’s financial status as well as the status of its customers and their abilities to pay….

Of all the data financial departments love to monitor, accounts receivable often tops the list. After all, it determines how much revenue your business receives. This, in turn, affects its ability to meet financial obligations, such as repaying business loans and making payroll. Is it time for your business to complete an accounts receivable analysis?…

Anyone who’s worked in accounts receivables knows how valuable a good collections email template can be. Accounts receivable collections rely on clear communication with customers, both in delivering accurate invoices on time and ensuring those invoices get paid. An A/R collections email template supports quick and efficient communication between you and your clients. It saves…

When accounting departments want a quick evaluation of the health of a business, they often look at their  DSO, or days sales outstanding. Traditionally, a low DSO indicates that your company has capital available and is in good financial standing. However, days sales outstanding are subject to a range of factors and targets should always…

Increased globalization and cross-border transactions, a proliferation of diverse payment channels and methods, and rising customer expectations are creating more complex business environments for accounts receivable teams. As a result, they have increasingly turned to automated cash application to adapt to these challenges. What is Automated Cash Application? Automated cash application is the process of…

The accounting and finance industry, including accounts receivable teams, have been facing an upheaval in recent years, with the lack of accountants and financial professionals causing firms to compete for talented staff. While it can be tempting to run and immediately offer more flexible hours and higher pay, hiring managers must ensure that they are…