About Anna Orwinski

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So far Anna Orwinski has created 18 blog entries.
6 12, 2017

3 Secrets You Didn’t Know About Accelerating Collections

2018-04-09T15:43:41+00:00 December 6th, 2017|Blog, Collect Smarter|

When it comes to the invoice-to-cash process, the most common pain point next to cash application is collections management. If you’re in finance you can relate to the manual steps, time-consuming efforts, and constant back and forth with customers... all while your receivables continue to rise. The collections frenzy is all too real in organizations today. Collections teams are in a sense firefighters: they put out raging fires, respond to collections crises and rescue the cash they’re owed from bad debt. Once they’ve put out one fire, it’s off to the next one burning down the street. A common trend for most organizations is to fix this issue by adding headcount, this, however, is a temporary fix. Not only do collections continue to rise, but also the number of people needed to manage it. The result? More overdue accounts, handled by a growing collections team. This situation is not fiscally Read More

27 09, 2017

Why Financial Institutions Are Banking on Integrated Receivables

2018-04-09T15:44:01+00:00 September 27th, 2017|Blog, Gain Insight Into AR, Make Customers Happy|

Are you behind on your Integrated Receivables Strategy? An integrated receivables hub is needed more than ever to future-proof business and banks are taking notice. But this wasn’t always the case. Three years ago, integrated receivables management was beginning to surface on the radar of banks, but most didn’t take action. According to Celent’s 2014 survey of US large banks, 92% rated integrated receivables (IR) management as most important to their future growth. But according to Treasury Strategies, only 1% fully implemented a solution. Why? Banks accepted the notion of integrated receivables but hesitated because of lack of control and high costs. To add to this, lockbox technology - a great revenue source - was greatly improving at the time. Optical character recognition technology (OCR) eliminated the need for banks to manually keystroke remittance information. This allowed them to seed more accurate data, reduce paper and process remittance information faster. Read More

15 08, 2017

FinTech for Commercial Real Estate? Here’s 12 Reasons Why.

2018-04-09T15:44:16+00:00 August 15th, 2017|Blog, Collect Smarter, Gain Insight Into AR, Get Paid Faster|

According to KPMG, this year in Q1 2017 global investment in FinTech companies hit $3.2 billion across 260 deals… and this is just the beginning. The way the internet changed publishing and music, FinTech is now changing industries like commercial real-estate (CRE) by modernizing the old-school processes used by finance. It’s no secret that collecting receivables for CRE companies is a challenge and managing multiple tenants can be frustrating. Without an effective platform to communicate rent charges, CAM fees, and tax across multiple locations and divisions, cash flow can be stifled with no real insight. FinTech is the answer for today’s CFOs and Property Accountants who need innovative technology to meet the digital appetite of customers, improve their experience, streamline processes, and access real-time data to make real-time decisions. A financial technology gaining traction with CRE companies is tenant platforms powered by accounts receivable (A/R) automation. With the ability to Read More

31 07, 2017

Need a competitive advantage? Try a digital transformation

2018-04-09T15:45:12+00:00 July 31st, 2017|Blog, Gain Insight Into AR, Save Time and Money|

Competition is the frenemy of every business - it’s a sign your offering is valuable to the market but it creates pressure to keep the customers you already have and find new ones quickly before the competition does. With digital on the rise, there is an opportunity for companies to get ahead-of-the-curve and champion digital transformation as a competitive advantage. How big is this opportunity? A Frost & Sullivan report projects that U.S. B2B e-commerce sales will reach $1.9 trillion by 2020, as global B2B online sales will reach $6.7 trillion. This is a lot of business to leave on the table for your competitors if you put off your company’s digital transformation. An undeniable way to make customers stickier is to allow them to conduct business with you, the way they want to. What does this mean in B2B? Adapting to their purchase behavior which is trending online and Read More

8 03, 2017

4 Reasons Why Your ERP Alone is not Enough to Optimize your Invoice-to-Cash Cycle

2018-04-09T15:46:15+00:00 March 8th, 2017|Blog, Gain Insight Into AR, Save Time and Money|

Your ERP is a jack of all trades, but is it enough to optimize your invoice-to-cash process? At first, you may think so. It would be the utopia as an ERP integrates and aligns all functional areas of your business (planning, purchasing, inventory, sales, marketing, finance and human resources). But as a jack of all trades that manages many moving parts of your business, does it mean it’s a master of none? Of course not, but traditionally ERPs are limited in managing your invoice-to-cash cycle. According to PayStream industry analysts, “ERP solutions are woefully inadequate in terms of receivables and collections management (RCM) functionality.” That’s a bold statement, but before you start getting down on your ERP, pause. It is one of the most important and vital business investments to set the foundation to optimize processes. What you have to keep in mind is just like any system that manages Read More

20 01, 2017

90% of CFOs have one top priority for 2017 – better reporting and insight.

2018-04-09T15:46:21+00:00 January 20th, 2017|Blog, Gain Insight Into AR|

It’s almost 3 weeks into the new year - how are your 2017 business goals shaping out? A new year means a new opportunity to refocus your business objectives. Teams gather to review the previous year, set goals for the new one and create strategies on how to attain them. Tracking is an important part of all of this and you need the right information to make critical decisions to reach your goal. But, how can you navigate this path without shedding light on the road to your goal? Lack of insight is a challenge and a top priority for CFOs in 2017. According to a recent survey by Kaufman Hall consulting (featured here on CFO.com), “over 90% of CFOs say they need to do more with financial and operations data at hand to help top management to make critical decisions.” As indicated by Kaufman Hall’s survey, 2017 is a Read More

30 09, 2016

Transportation: How to realize certainty, in uncertain times

2018-04-09T15:46:40+00:00 September 30th, 2016|Blog, Collect Smarter, Save Time and Money|

A couple of weeks ago, I attended the McLeod User Conference in San Antonio. McLeod Software is the leading trucking software used by some of the most innovative transportation and logistics companies. It was a great conference for VersaPay to connect with our customers who are using McLeod and learn more about the changes in the transportation industry. The show was impressive with great educational sessions and interesting keynote speakers. One keynote speaker that was most memorable was, Tom McLeod, founder of McLeod Software. He kicked off the show with a transparent overview of the uncertain times the transportation industry is facing. Elizabeth and I with Tom McLeod at the McLeod networking event. When Tom covered the obstacles and ambiguity the industry is faced with, it became apparent there are key areas that will change transportation business operations and introduce new conversations on how to adapt. Here are Read More

13 07, 2016

The True Cost of Not Automating your Accounts Receivable.

2018-04-09T15:47:40+00:00 July 13th, 2016|Blog, Collect Smarter, Save Time and Money|

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. Read More

27 06, 2016

Metrics are a headache, but they don’t have to be.

2018-04-09T15:47:50+00:00 June 27th, 2016|Apply Cash Easily, Blog, Gain Insight Into AR, Get Paid Faster|

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?   Read More

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