A/R University

Resource Library for Strategy Development

3 Simple Ways for A/R to Drive Sales

Sales and accounts receivable teams each share common goals – gain new customers, maximize customer satisfaction, eliminate sales and payment obstacles, and improve the company’s financial operating metrics. To reach these goals together, each department has to understand how the other works and the methods they utilize to be successful. It is good for sales to understand the analysis used to mitigate bad debt risk and extend credit to customers. Similarly, accounts receivable could benefit from utilizing a sales mentality when interacting with customers.

The Five Myths that Keep Vendors from Adopting Electronic Invoicing and Payments

(and the truth that puts them to rest)
If you have ever considered getting started with electronic invoicing and payments, you’ve likely heard some of the myths that have kept many companies from innovating their accounts receivable practices and benefiting from the advantages of digital technology.

Why You Can’t Delay Electronic and Automated A/R

When business is strong and things are going well, it seems there is plenty of time to get around to implementing new processes and new innovations. Then a crisis hits, and weaknesses within your processes become glaring. For accounts receivable teams, these weaknesses can slow collections and strain customer relationships.

A/R Customer Self-Service Drives More than Customer Satisfaction

Today, many B2C companies are celebrated for their reliability, 24/7 availability, and especially for their exceptional customer service. Companies such as Sephora, Amazon, and Target have risen to the top of their sectors by focusing on creating a remarkable customer buying experience. As a result, these companies are viewed as some of the most customer-centric retailers in the business and are applauded for their level of customer service.

Cash is King:
Seven Ways A/R Can Improve Cash Flow Today

Managing cash flow is a balancing act for many businesses. Those that master this act gain control of their company’s working capital, operating costs, and earnings. Equally important, this control enables them to deftly weather financial crises. Given the larger importance of cash flow during economic downturns, strategizing ways to remain stable, preserve finances, and emerge strong is critical.

Common Accounts Receivable Mistakes to Avoid

Errors can happen from time to time, but many of these can be avoided by being aware of common mistakes and correcting them early on. Not only will this save your company time, money, and headaches in the long run, but a proactive approach to your accounts receivable process can streamline operations and improve customer satisfaction. Take a close look at these six common mistakes to see how you can take actionable steps towards improvement.

5 Tips for Improving Collections

A powerful, cost-effective collection process involves leveraging smart tools that give Account Receivable teams control of their workload and meet customers where they are.

Know the Benefits:
Consider which features of a payment solution will help you achieve faster collections.

  • How can pain points and payment friction be removed?
    By accepting various payment methods, is there a measurable difference in on-time payments?
  • Do options save your team time and eliminate the bulk of collection calls?
  • Do they give your company a competitive advantage?

Decoding the Costs of Payment Channels

With busy schedules and lengthy to-do lists, both vendors and customers need the invoicing and payments process to be as frictionless as possible. To this end, payment solutions should be intuitive, convenient, secure, and cost-effective.

Refining the A/R Focus During a Crisis

Our current business environment is in turmoil. During difficult times like this, it is critical for Accounts Receivable teams to identify opportunities to stabilize both their business and customer relationships. Vendors and customers need to work together to ensure that immediate priorities are met while preparing for the “New Normal” of the future business environment.

Aside from their employees’ well being, companies are most concerned about their customer relationships and cash flow – two areas that rely heavily on effective Accounts Receivable policies and processes. Below, we provide guidance and actions that A/R teams can use today to meet growing demands and increasing risks, while maintaining strong business relationships.

Your Guide to a Productive Work-from-Home Environment

While working from home requires a slightly different approach to being in the office every day, rapid advancements in technology have made this increasingly easier. Now more than ever, it is important to have the tools to ensure an effective at-home work environment so your business can carry on with productivity in a secure, collaborative, and innovative way.

Mobile: Changing the Landscape of Communication

Major transformations in consumer media consumption and usage represent a global movement towards all things mobile. Technology, applications, and business models are modernizing as a result. Companies involved with mobile-centric social networks, videos, or location-based services are well positioned to take advantage of this massive shift. Similarly, organizations who leverage opportunities to optimize on this movement are at the forefront of strategic thinking in their industries.