All businesses face cash flow issues during challenging economic climates, making it especially difficult to collect customer payments within the agreed-upon terms. To optimize your collection efforts and cash flow, it is essential to reevaluate the priorities of your collection department, including the utilization of third-party collection agencies. Making timely referrals to these agencies for… Read more »
Machine Learning in Credit & Collection Scoring
Managing receivables is a crucial aspect of B2B financial management. Late or unpaid invoices and bad debts can significantly impact cash flow, causing businesses to struggle to meet their financial obligations. Companies rely on various tools, including payment and credit scoring, to prioritize their B2B collection activities to stay on top of outstanding payments. Payment… Read more »
Commercial Vs Consumer Collection Agencies
If you are in business, there will come a time when you need to enlist the services of a collection agency to help recover your past-due receivables and bad debts. So how do you find the right one? Commercial debt usually involves significant amounts and often complex circumstances that can lead to financial issues for… Read more »
Accounts Receivable Automation Tools, AI and RPA
Advanced technologies, including robotic process automation (RPA), will forever change accounts receivable, collections, and deduction management. Like most other back-office functions, receivables management was a manual affair as recently as twenty or thirty years ago, working off printed agings, typing reconciliations and letters and mailing or faxing. It’s hard to believe that tools MS Excel,… Read more »
Collection Gridlock Causes Bad Debts
Eliminate Collection Gridlock to Reduce Bad Debts Frauds are rare. If you perform an easy credit check, you will have very few out-and-out scams, which we’ll define as businesses that order your products, knowing that they will never pay you. The odds of getting your money in these cases is nil. Chronic Slow Pays. The… Read more »
Leveraging Order-to-Cash For Shareholder Value
Improve Order-To-Cash to Increase Shareholder Value The Order-To-Cash (O2C) process is an area that that remains largely untapped by many businesses. However, smart and effective management of the O2C process could help to improve business performance and the bottom line. It is no surprise that more and more corporations are beginning to prioritize this strategy… Read more »
17 Practices that Improve Cash Flow
Accounts receivable collection at many companies is still done the way it was in the green eyeshade era, leaving a great deal that can be done to improve results. Like many repetitive processes, collections is a “production” operation, and can be “re-engineered” to improve cash flow, reduce DSO and slash the disputes that result from letting unpaid accounts go stale…. Read more »
100% Auto Cash Application
Most companies – even the very largest – are still getting by with auto-cash that still requires off-line manual work for resolution of exceptions, duplicate entry of chargebacks, and inaccurate postings that create extra work. With the unmatched power of the Carixa Cash Application Engine, you can today achieve a 100% correct auto cash, and… Read more »
Bad Results From Arbitrary Application of Credits and Debits
Let’s say you have a large customer with a huge number of small-dollar unapplied credit memos, invoices, unapplied cash, debit memos, and deductions. For arguments sake, let’s suppose you can round up 1,200 credit memos totaling $625,000, and 1,600 deductions totaling $615,000, all un-matched for one reason or another. So you have a great idea to get rid of 2,800… Read more »
