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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Pros & Cons of AR Outsourcing
Feb 15, 2024 by Zazil Martinez
In today's business world, keeping the financial side of things running smoothly is crucial. As your business grows, so do the accounts receivable (AR) challenges. Imagine handing these responsibilities to a team of experts, allowing you to focus on critical tasks. That's where AR outsourcing comes in.
AR Automation: The Future of Invoicing and Payments
Feb 13, 2024 by Zazil Martinez
Accounts receivable (AR) teams are often overwhelmed with tedious and costly manual processes. Performing the receivable process manually wastes time and money, causes errors, and results in lost documents and compliance breaches.
AR Turnover Days: What Is It and How to Know What Is a Good Ratio?
Feb 8, 2024 by Zazil Martinez
As an AR manager, you must know what AR Turnover Days are and their importance as a metric. They're used to evaluate how efficiently accounts receivable are managed by measuring the average number of days it takes for a company to collect payments from its customers.
The Ultimate Guide to Accounts Receivable Management
Feb 7, 2024 by Zazil Martinez
Accounts receivable (AR) management is crucial for maintaining a healthy cash flow within any business. It's estimated that up to 24% of monthly revenue can be tied up in AR, emphasizing the significance of efficient management strategies.
5 Financial Resolutions to Kickstart the New Year
Dec 6, 2023 by Zazil Martinez
Discover the essentials to thrive in the new year. From streamlining expenses to embracing digital payments, we provide actionable steps for success. Join us in securing a resilient financial future.
How Automated Payment Services Can Improve Your Business
Oct 3, 2023 by Zazil Martinez
Automated payment services have many benefits. They help reduce costs, process invoices faster, and prevent errors. Integrating payment automation with ERP systems reduces friction, lowers costs, and boosts efficiency. Platforms like Paystand help transform AR management and improve cash conversion cycles.
Everything You Need To Know About EDI Payments
Jul 7, 2023 by Zazil Martinez
EDI payments involve exchanging payment information electronically instead of using paper-based methods. They can benefit businesses by saving resources and speeding up transactions. By adopting them, companies can become more efficient and thrive in today's competitive world.
Upgrade Your Team with a Digital Accounts Receivable Process
Jun 30, 2023 by Zazil Martinez
Unlocking the potential of a streamlined and efficient accounts receivable process is critical for finance teams burdened by paperwork, manual tasks, and fragmented data sources. If your accounting processes are still in the manual era, this article will help you upgrade your team with a digital approach.
3 New Features in Paystand's Sage Intacct Integration
Jun 29, 2023 by Zazil Martinez
Streamline your accounts receivable processes with Paystand and Sage Intacct's integration. Its latest enhancements, the Payer Portal, advanced filtering, and dispute resolution, help gain real-time visibility and improve efficiency.
3 Steps to Digitize Your Enterprise Cash Cycle
Jun 27, 2023 by Kelsey Banerjee
Digitizing the enterprise cash cycle is a complex undertaking. Some companies dodge it entirely to avoid losing customers or incurring operational expenses. Others try digitization to save time and reduce costs but regularly miss the mark. This three-part post will look at the enterprise cash cycle and what it means to modernize your business payments truly.