Invoice Automation Is Crucial to Your Business. Learn Why!

There are numerous benefits of implementing an automating accounting solution that can also help in generating and sending invoices automatically. One of the most obvious reasons for investing in automated invoice processing software is the automatic processing of data and no more need to manually enter the information. Have a look at the following points and […]

How Self-Service AR is Going to Change Your Business Strategies

Self-service AR can be described as the natural extension of the Accounts Receivable automation. It helps in providing ownership to your customers in your various business processes. The self-service AR help in automatic credit and collection processes. Ultimately, it leads to high profit and good cash flow. The self-service AR portal is beneficial for both […]

An Essential Guide to Write an Effective Dunning Letter in 2021

By the term dunning letter we understand that a polite notification or a gentle reminder sent to the customer stating that there is an overdue pending with account receivable for the sender. The initial letters of the series that are received by the customer should always maintain a polite time because the client might have […]

A Quick Guide to Accounts Receivable Turnover

What is Accounts Receivable Turnover? The term accounts receivable turnover ratio is in general used to describe the performance of certain companies on a quantified basis with their management of the credit. The credit is usually extended to the existing clients by evaluating all the required details on how long would it take to retrieve […]

Why Top Companies are Choosing AR Automation Solutions

Most businesses across the globe are automating their various business operations to save time and improve the quality of work. They are investing in the AR automation solutions to speed up the various financial operations of their business. This help in reducing DSO, improve payment collections, better invoice management and to maintain a good relationship […]

A Brief Guide to Write the Best Collection Letter to Customers

Writing collection letter to a customer can be scary.  How to ask for money owed without coming off as rude and annoying? Direct and to the point: Customers don’t read long mails; so the amount and due date should be be in bold and in the first sentence of your collection letter.  I usually recommend […]

What is AR Automation and Why Does It Matters

AR Automation, or Accounts Receivable Automation, is the software used to automate all invoice payment reminders. By using customizable workflows and email, SMS and voicemail templates, one can send thousands of reminders to customers for past due invoices at a click of a button. AR Automation frees up time for AR teams to focus on […]

Why Working from Home Is Pushing Businesses to AR Automation

If you regularly invoice clients, you have likely had the experience of chasing down money. It’s time consuming; frustrating and repetitive.  The customers know they have to pay, they are just playing the clock and delay in the inevitable.  They count on you not doing your job and “forgetting” that they owe you money. With […]

What is the Impact of Covid-19 Pandemic on Collections

What a year, we will all remember 2020!  It has also very tough for most of our customers. Food and Retail industries have the most negative impacts Our customers in the Food and Retail industries are in the middle of a perfect storm. In some cases, they have lost 50 to 70% of their business […]

Tips and Tricks to Reduce Your DSO

DSO or Days Sales Outstanding is one of the best company wide metric to measure your overall financial performance.  It is calculated as the {Total Account Receivable}/{Total Credit sales in accounting period} X {days in accounting period}.  The unit of measure is in days and best in class companies have DSO as low as 30 […]