Plenty of financial gurus lauded the Federal Reserve for hiking interest rates and its stated goal of ratcheting down inflation. After multiple hikes in 2022, the Fed intends to increase the target rate even further in 2023. How high? Seventeen…
Credit and Collections
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…
Whether your year-end closing is this quarter or still months away, your Finance team needs a strategy for keeping stress low and productivity high while generating those annual balance sheets, profit and loss statements and cash flow statements in case…
Among all the year-end tasks CFOs and collectors are juggling right now is trying to reconcile accounts due. There may be more pressure this year than ever with a recession and layoffs on the horizon. Bottom line: How a company…
Securing an unpaid debt is challenging enough. The last thing any company wants to do is undermine its efforts by forgetting to cover all the necessary legal bases. A simple one to avoid? The so-called "mini-Miranda" warning required under the…
Finance departments need to know what's going on across the organization. Yet all too often communication channels clog up, with one important team being the last to know important info. And that's A/R. Picture this: Your A/R point person calls…
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…
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…
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…
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.…
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…
