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 accounts. So how do you find the right one? First, you must determine if the money owed to you is Consumer debt or Commercial debt. What is Commercial… 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 »
