Cash application is the bane of existence for finance teams, especially those in the accounts receivable department who face this manual, error-prone, and time-consuming process firsthand. Continue reading Stop painful cash application with AR Automation
One common misconception with accounts receivable software is that it’s costly and will not realize ROI. But, most companies only focus on the direct costs of invoicing (printing, postage, etc) and do not understand the true cost of preparing invoices and collecting outstanding receivables. Working at VersaPay, I’ve seen customers on average realize ROI in less than 2 months with an AR automation platform.
Whenever quarter end rolls through, so does the dreaded metrics headache. Pulling data from multiple sources, managing various spreadsheets, correcting inaccurate data, and creating reports can be a nightmare, especially if you do not have all of your ducks in a row. The amount of time spent gathering data makes teams reactive vs. proactive. Wouldn’t it be nice to use time spent on gathering data to analyze it and create actionable insight? Continue reading Metrics are a headache, but they don’t have to be.
We’re at mid-year mark for 2016. This is the time companies start reflecting on the last 6 months to see if the objectives they’ve set are on the right track. For the role of the CFO, this is very true as they are overseeing a sea change. With emerging digital technologies, CFOs are challenged to look past their traditional processes to increase productivity, efficiency and accuracy. What is the main objective they will be reflecting on? I like to call it the CFO – Cash Flow Objective (CFO) – this is what keeps your CFO up at night. Continue reading The “CFO” is Keeping your CFO up at Night
Is your account receivables (AR) stuck in the dark ages? If so, you’re not alone but in a couple of years you may be. While exhibiting at the Industrial Supply Association (ISA) Convention (largest yearly meeting of distributors, manufacturers and suppliers), it was eye opening to see how many companies are still managing their AR manually and how risky this is with customer appetite shifting to the online world. Continue reading Why you need to digitize your accounts receivable…even if you don’t want to.
It’s no secret that there is a cost to credit card acceptance. Actually, it is one of the main reasons cited by B2B companies for not accepting credit cards. According to a survey by First Annapolis Consulting, 67% of suppliers noted that high credit card acceptance fees are the main reason they resist credit cards. This is a fair reason as fees are a cost to their business, but what many suppliers do not understand is the benefits of credit card acceptance. The value it creates can significantly outweigh the cost. Continue reading Does the value of credit card acceptance outweigh the cost? For some B2B businesses, it does.
Last week we attended the 2016 Convenience Distribution Association (CDA) Marketplace in Las Vegas, where convenience stores, wholesalers and distributors connect. Continue reading 3 Ways Wholesalers and Distributors Can Better Manage their Accounts Receivable to Make the Sale and Get Paid
The Institute of Finance & Management (IOFM), specifically, a division known as The Accounts Receivable Network, recently interviewed and profiled one our clients, Sihl Inc. (Coventry, RI). The article is entitled: AR Automation Brings Big Benefits to Sihl Corporation. Continue reading How Sihl Corporation Leverages AR Automation to Produce a Healthy Cash Flow and Happy Customers
When software development companies evaluate software for their business, one question creeps to mind – should we build or buy?
When your business builds software for a living, you have resources at your disposal – talented team of software engineers who are wizards at code, money for research and development, and unlimited office coffee to keep the team running.
But economically does it make sense to build software? Continue reading Software: Build or Buy?
Working on our upcoming webinar with Lina Chindamo (Senior Risk Manager from Dun & Bradstreet), I had the pleasure of diving into her fountain of knowledge and expertise in accounts receivable (AR). With her track record working in senior credit positions at top companies including Mondelez, Maple Leaf Foods, Kraft, and Sony, Lina has established key best practices to manage the AR function along the way. Continue reading What is the secret to an effective accounts receivable department?