B2B cash application refers to the process of matching a customer's payments to the invoice that corresponds with them. In today's economy, it's a major yet incredibly challenging task for suppliers. Though technology has come a long way in terms…
Accounts Receivable
If your Accounts Receivable (A/R) process still includes manual steps, you're not the only one. Not by far. Recent A/R benchmarks highlight how many companies are struggling with outdated systems and limited automation capabilities. About 70% of companies still lack…
Sales tax compliance is a demanding job for finance teams like yours. For example, comparing the number of tax rate changes across the U.S. for January 1-June 30, 2023 vs. January 1-June 30, 2022, the volume of changes increased 43%,…
How many times has your Finance team seen the word "processing" on their laptop screens this week? Instant payments, both via The Clearing House's RTP (Real-Time Payment) Network and the Federal Reserve's 24/7/365 FedNow Service, are poised to change that.…
Companies are declaring bankruptcy at a rate not seen since the 2010 recession. And it's bad news for credit and accounts receivables departments attempting to collect debts. Compared to a year ago, total commercial bankruptcy filings increased 12% year-over-year in…
Cloud-based A/R is rapidly becoming a must-have for businesses of all sizes. But where is A/R technology heading, and what should you expect it to do? Here are some key trends where this fintech is evolving. Can your A/R tech…
The start of the new year looks a lot like what we saw over 2022: Businesses are struggling to pay their bills. Late payments are higher than normal and it's creating a challenge for Accounts Receivable and credit departments everywhere.…
Sales and use tax shouldn't just be the responsibility of your A/P and A/R departments. Although they're the ones who are experts in sales and use tax liability, your sales and purchasing teams can support Finance by double-checking that the…
Almost every company faces this scenario at some point: A small to midsize business customer is late making payment for a product or service. Phone calls, emails and letters to the client reminding it of the debt and the terms…
Accounts Receivable departments need to stay on their toes for scam artists and fraudsters. Plenty of companies' cash flows are squeezed tighter than ever these days. So the last thing you need is to accept and fill an order from…
Among the many year-end duties finance teams are working on is identifying an aged account that isn't likely to pay. This is the type of customer that Accounts Receivable called and wrote to so many times to collect, it was…
Collections and accounts receivable professionals will develop more confidence in their abilities and rank ahead of their peers by following the ASK method. What's the ASK method? It stands for Attitude, Speed and Knowledge. And it's a tried-and-true strategy that…
