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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Get Your Hands Off Your AR Process
Oct 19, 2021 by Kelsey Banerjee
For people on the outside looking in, accounts receivable (AR) processes appear deceptively simple. After all, isn't it just accepting payments? What's better than handling payments?
How to Optimize NetSuite with Integrated Payments and AR Automation
Aug 10, 2021 by Mark Fisher
ERP systems have revolutionized how accounting departments track payments, but these digital systems aren’t without their challenges. These systems often fall short when it comes to user experience and analytics, and that’s where integrations come in.
Leadventure: Automating AR with Paystand for Sustained Growth
Jan 28, 2021 by Daniella Bourguetts
Leadventure is a SaaS website provider of digital marketing services for dealerships, OEMs, and resellers across 13 verticals, operating multiple subsidiaries that provide solutions to drive leads and in-store sales. With over 28,000 clients and services that range from website management to marketing tools and eCatalogs, LeadVenture has formed relationships with some of the largest manufacturers in the industry.
Accounts Receivable: A Strategy for Steady Cash Flow
Aug 4, 2020 by Eduardo Lopez
Whether you're a mid-market or a large enterprise B2B company with a dedicated accounts receivable (AR) team, creating a steady stream of "free cash flow" is always a challenge. In fact, the average US business has 24% of its monthly revenue held up in accounts receivable. In this blog: a proven strategy for creating a steady cash flow.
4 Effective Ways to Recession-Proof Your Accounts Receivable Department
Jun 1, 2020 by Eduardo Lopez
The recent economic volatility has led businesses to be more careful about how they manage their cash. In these times, it's helpful for accounts receivable teams to focus on improving cash flow and strengthening their payment process.
New Year’s Resolutions for Accounts Receivable Teams in 2020
Jan 13, 2020 by Eduardo Lopez
With 2020 finally upon us, it’s time to start making our New Year’s resolutions. You may already have set your personal goals, but what about your Accounts Receivable resolutions? As an accountant, these resolutions might look a little different, but that’s why Paystand is here to help.
How Does Paystand Automate the Accounts Receivable Process?
Nov 22, 2019 by Eduardo Lopez
Paystand automates the entire Accounts Receivable process, so you never have to spend hours manually collecting and reconciling payments. The benefits are two-fold: your team removes hours of repetitive tasks from their workload, and tasks are automatically executed error-free on your behalf. Paystand also helps businesses reduce late payments. That's why Paystand customers usually decrease the number of overdue receivables by 62% in the first few months.
How eCheck Can Shrink Time on Your Accounts Receivables
Jul 26, 2017 by Kenzie Earle
Today there are numerous ways for businesses to accept payments online. Whether it is a credit card, eCash, ACH, or an eCheck, companies have multiple options to choose how they want to receive payments. To the average user, the go-to option for payment is usually a credit card or using a bank account via ACH. However, most users overlook two important differentiators between all four of these payment options: speed and cost. Taking a deeper look into each option can help your company make better, smarter decisions.