If yours is like most companies, you’ve got at least one staffer managing cash application of payments. And if your cash application relies on manual processes, it can feel like a full-time job. A recent National Association of Credit Management (NACM) poll finds 55% of companies dedicate one or two team members in accounts receivable […]
Finance technology is changing all the time. Trends come and go. But the underlying goals of finance teams don’t change much at all. The top goals of teams that manage the invoice‑to‑cash process remains the same — to improve payment timelines and reduce outstanding balances by strengthening customer relationships. A new report — The State […]
Fully integrated, automated payments! A dream goal for many CFOs and controllers. Imagine how much more mission-critical work finance staffers could dig into? Here’s a reality check: If you’re still in the process of transitioning from manual to automated processes, you’re far from alone. Just 5% of mid-sized companies (annual profits between $3 to $15 […]
The Small Business Administration (SBA) is launching a line of credit program that gives small businesses up-front access to capital and more room to borrow. Biz owners can use all the help they can get as more banks are tightening credit limits this year. The 7(a) Working Capital Pilot (WCP) is a flexible line of […]
Let’s be real: The enthusiasm behind real-time (or instant) payments stems almost entirely from the seller’s side of B2B. After all, whether we’re talking about a mom-and-pop vendor or a multinational corporation, who doesn’t prefer getting paid sooner rather than later? And in the business-to-consumer realm, the majority of consumers like real-time too. The selling […]
Collections teams are under added pressure to keep after delinquent accounts and press for payments, even if only partial ones. Waiting too long will lower the odds of seeing a dime from a cash-strapped debtor. Despite positive economic signs popping up here and there, the number of businesses filing for Chapter 11 bankruptcy is getting […]
Companies are likely to see more customers stretch payments in 2024. Don’t be surprised if a steady client ghosts you either. Reason: Bankruptcy filings by individuals and businesses increased by more than 18% in 2023. And Chapter 11 reorganization filings surged by 72% last year. A frightening number of businesses are just barely getting by […]
Tight lending limits by the banks and high interest rates will continue putting a financial strain on companies in 2024. Customers will look to extend their credit limits with their suppliers and vendors to stay competitive. The majority of credit & collections professionals still prefer to review existing customer credit limits on an annual basis, […]
Year-end close is when many finance teams are vulnerable to burnout from a seemingly endless, high-priority to-do list of generating annual balance sheets, profit and loss statements and cash flow statements. So if your year-end closing is this quarter, or if it’s almost here, and your people seem frazzled, this is a good time to […]
