Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
Why You Need an Accounts Receivable Process Flowchart
Feb 28, 2024 by Zazil Martinez
Consider creating a flowchart if you're looking for ways to improve your accounts receivable process. An accounts receivable flowchart visually represents the collection process, highlighting areas of inefficiency and opportunities for automation. Accounts receivable flowcharts are excellent for helping accounts receivable departments to visualize their processes. They often help pinpoint which areas are ripe for automation or improvement. Not only can they effectively keep your team on the same page and train new employees, but they can also help you see areas of inefficiency.
How to Find the Best AR Automation Software for Your Business
Feb 23, 2024 by Zazil Martinez
Finance professionals always search for ways to enhance efficiency and streamline financial operations. One powerful solution to address these challenges is finding the best AR automation software. But what exactly does this mean for CFOs and finance teams? Imagine that tedious tasks of manual invoicing, chasing payments, and reconciling accounts are in the past. The best AR automation software offers a solution that automates and optimizes accounts receivable management. This lets finance professionals focus on strategic initiatives rather than mundane administrative tasks. But with so many available options, choosing the best AR automation software can be daunting. Here's a comprehensive guide on what to look for to select the best one for your business.
Top Challenges Accounts Receivable Teams Face and How to Solve Them
Feb 20, 2024 by Zazil Martinez
In today's fast-paced digital marketplace, accounts receivable (AR) teams face numerous challenges that impact a company's cash flow and growth. Even with an optimal rhythm, some remain significant. Common accounts receivable challenges include high DSO, ledger disorganization, poor communication, and inadequate policies. Streamlining processes, offering multiple payment options, going paperless, updating customer information, and automating AR can overcome these. A structured credit policy can help identify suitable customers. A weak accounts receivable management process can cause several other unintended consequences, including:
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What’s the Difference Between ACH and EFT Payments?
Sep 29, 2023 by Zazil Martinez
Digital transactions have revolutionized B2B payments, changing the landscape completely. At first, people were unsure about sending money online. But now, it's essential to understand that digital payments have become much safer and faster. To know how ACH and EFT differ and how this knowledge can impact your business, delve into this insightful exploration.
What is an ACH Payment?
Aug 1, 2023 by Zazil Martinez
Since the early 1970s, the Automated Clearing House (ACH) network has revolutionized payment processes, offering an alternative to credit, checks, or cash. With fast payment processing, lower fees, and enhanced security, ACH is the go-to choice for countless businesses. If you're ready to streamline your finances for the digital age, read on to uncover the full potential of ACH payments.
The First Three Things to Do When Faced with a Chargeback
Jun 14, 2023 by Zazil Martinez
Whether due to stolen credit cards or customer dissatisfaction, chargebacks are a reality that merchants face. But understanding how they work and knowing how to respond when confronted with one can ease the process.
Solutions for Slim Margins in the Solar Industry
May 3, 2023 by Zazil Martinez
In the solar industry, competition is fierce, and companies constantly strive to establish their brand and gain a competitive edge. While a promising technology with significant benefits for the environment and energy sector, businesses in the industry face numerous challenges, such as improving efficiency and reducing costs while maintaining competitive pricing for their customers.
What are eChecks and How Do Businesses Accept Them?
May 2, 2023 by Kelsey Banerjee
An electronic check has many names - eCheck, direct debit, direct deposit, and online check are just a few. And while credit cards have been the default payment method for businesses for over a decade, this new alternative is making headway. And for good reason.
The Top 5 Myths about Accepting Paper Check Payments
Nov 17, 2015 by Scott Campbell
Here in Silicon Valley it’s easy to forget that not every business process has been transformed by tech’s magic wand. Case in point: over half of all business-to-business payments still take place by paper check, sent via snail-mail. Even more surprising is that many of the companies we talk to are perfectly satisfied with a process that works exactly the same as it did 75 years ago. Are check payments a perfect example of “If it ain’t broke, don’t fix it?” Or has the gospel of digital payments just not reached the traditional business world yet?