The Revenue Cycle Function requires excellence in four key areas, each contributing to a company’s success and operational efficiency. Recognizing these focus areas will allow your company to generate a frictionless revenue cycle flow and improve your cash flow, customer service, and overall profitability. When providing B2B collection services for your business, Leib Solutions makes… Read more »
Leveraging Technology for Accounts Receivable Collections
Manual collection processes, including the many companies that still use spreadsheets to aid the process have performance problems, including very low productivity, errors, and poor cash collections. Perhaps the best investment you can make is licensing an advanced SaaS system which will give you the structure to implement real discipline in your collection operations. It… Read more »
A Guide to Efficient and Effective Collection Practices
The basis of our accounts receivable management services is the prioritization of collection activities around the money and the priorities instead of an “alphabetic order” type of collection effort. 1. Create a Plan of Action using situational strategies based on the accounts and circumstances, but remember that measuring collection metrics is not the same as following… Read more »
Subrogation Collection Best Practices
Insurance executives are familiar with subrogation, the insurer’s legal right to pursue damages after paying a claim. However, it turns out that many insurers are unable to or neglect to pursue their subrogation rights. If they do, they may not be using best practices in doing so. This results in profit opportunities lost forever, as… Read more »
Things to Consider When Hiring a Collection Agency
Every company needs a collection agency, since there will always be customers that default or who will not pay under the normal terms. Hiring the best commercial collection agency is in your best interest, so here are some factors you should take into consideration when choosing an agency for your company: If you are B2B,… Read more »
Collection Best Practices That Increase Cash Flow
Accounts receivable commercial collections at many companies, are still done the way it was in the green eyeshade era — their processes aren’t up-to-date, leaving a large margin of actions that can be done to improve results. Like many repetitive processes, collections is a production operation, and it can be re-engineered to improve cash flow,… Read more »
5 Tips to Help Forecast Your Bad Debt Allowance
Estimating your corporate Bad Debt Allowance (BDA) is a fundamental job of the Credit Manager. Doing it right will help your company prepare for the expense and possibly enable you to head off losses. This infographic offers five factors that can help you keep your company’s Bad Debt Allowance within a predicted threshold: To learn… 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 »
Electronic Signatures in Credit Application Automation – A Best Practice
e-signatures Electronic Signatures Digital Signatures Companies today routinely use e-signatures to streamline and speed commercial transactions. However, we still sometimes get a question as to whether electronic signatures are binding in the United States and Globally. The following information is provided from U.S Government websites as well as our Smyyth companies corporate e-signature partner,… Read more »
