Industry’s best collection letter

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 it matters?

AR Automation, or Accounts Receivable Automation, is the use software 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 Automate Account Receivables

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 […]

Impact of Covid-19 on Collection

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 […]

In Account Receivable, One Size does not Fit All

I just got off the phone with a customer that reminded me how much progress they have made in the last 6 months.   Most accounting systems send the same payment reminders over and over When they started looking at their AR collection process, they found over 2,000 new invoices every month.   They had one simple […]