Collecting outstanding debts and maintaining cash flow all comes down to the persistence of you and your Accounts Receivable (A/R) team members. Being seen as “persistent” in your industry is the ideal spot you want to be. On the other hand, being perceived as “aggressive” by customers late to pay a bill can open a […]
Picture this: You’re settling on a new automation program shown to help streamline account data and close payments more effectively. You’re excited about the time it’s going to save your team members and the money it’s eventually going to save your company. The one hiccup? One or more staffers who need to be brought up […]
Since the pandemic began in 2020, B2B cash application – the process of matching a payment from a customer to the corresponding invoice being paid – has been slow and inconsistent at times for many supplier companies. Part of it is caused by supply chain issues, part of it’s due to a remote workforce, and […]
Credit managers are relatively optimistic about the state of the economy these days. But one critical sector in particular is behaving like it’s in a recession – and it’s going to have ripple effects on creditors and supply chain partners. The manufacturing sector’s Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) […]
Finance pros know there’s more than one way to motivate staffers to improve their performance. Chances are you’ve tried incentive programs and training tactics to get your teams to collect. There’s a variety of carrots to dangle based on what staffers care about and your budget will allow. And by the same token, there are […]
If you’re like most businesses these days, you’re either dealing with a customer or two that’s stretching payment deadlines as far as possible (or are past due), or you’re worried it’s about to become a problem and cut into your cash flow. Business confidence isn’t quite as low these days as consumer confidence is, but […]
Forward-thinking companies like yours are always looking for ways to optimize A/P and A/R processes to keep your business’s cash flow well-balanced. But outside of using automation technology to reduce errors, streamline vendor invoice approvals and process customer payments, what else can be done? A/P best practices Here are six steps you can take immediately […]
Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash, it’s not subject to devaluation from inflation. For A/P transactions, virtual currencies and blockchain technology […]
Word on The Street is the U.S. Federal Reserve wants to hike interest rates at least a couple more times in coming months, which will effect how much businesses want to risk borrowing or extending more credit to customers, among a host of finance issues. But are rate hikes a sure thing? Or could the […]
