About Katie Canton

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So far Katie Canton has created 16 blog entries.
2 05, 2019

Waiting For Your Money is Costing You Money. Can You Afford It?

2019-05-02T11:51:01-04:00May 2nd, 2019|Blog|

We used to spend our lives waiting. Needed to go somewhere? You waited for a taxi or bus. Needed cash? Waited in line at the bank. Needed to buy something? Waited in line at a shop. Went out for dinner? Waited for a table. Wanted to watch a movie? Waited in line at the ticket booth, then at the concession stand, then waited for the movie to start. Now, with the likes of Uber, Venmo, Amazon, Grubhub, and Netflix, we never have to wait for anything. Yet, if you work in the receivables department of a wholesale distributor, waiting isn’t only the norm, it’s the name of the game. With your working capital tied up in receivables and inventory, your customers’ expectations changing, and the cost of capital going up, how long can you really afford to wait? Understanding Your DSO What is your Days Sales Outstanding (DSO)? Is it Read More

24 04, 2019

The Digital Age of Accounts Receivable is Dawning. Are You Ready?

2019-04-24T16:29:49-04:00April 24th, 2019|Blog|

We’ve all heard the story of Netflix and Blockbuster. The David and Goliath tale of how one small, agile, forward-thinking business took down a behemoth. How in only a few short years, Blockbuster went from being a multi-billion dollar business to filing for bankruptcy. Since then, countless business books, blogs and even university courses have been dedicated to dissecting the story. How could Netflix, a flailing business itself back in 2000, crush Blockbuster so completely and so swiftly? Nowadays, we laugh when reading about how Blockbuster turned down an offer to buy Netflix for a mere $50 million in 2000 - “How could they have been so stupid?” And we roll our eyes when looking back on Blockbuster’s online DVD rentals launch – “The future was streaming, not DVDs!” But hindsight is 20/20. If Blockbuster knew then what they know now, what would they have done differently? AR’s Digital Transformation Read More

20 03, 2019

IDC Names VersaPay a Leader in Inaugural AR MarketScape

2019-03-20T13:19:26-04:00March 20th, 2019|Blog|

Accounts Receivable is changing. What was standard practice 20 years ago, is obsolete today. New technologies are transforming every aspect of the invoice-to-cash cycle, from how we send invoices and accept payments, to how our customers expect to engage with us. Finance organizations across all industries need to evolve to stay competitive. IDC recognizes this change and in March 2019 released the inaugural MarketScape for Worldwide SaaS and Cloud-Enabled Accounts Receivable Applications. The MarketScape is an in-depth analysis of the AR software companies that have taken great strides to address the challenges faced by today’s AR professionals. IDC has profiled and assessed the capabilities of these software companies and has named VersaPay as a leader - the highest possible designation.     The MarketScape report evaluated 8 accounts receivable software vendors across a number of different criteria, including how they addressed these top AR challenges: Data management Process management Time Read More

7 03, 2019

7 Interesting AR Facts and Figures

2019-03-07T10:14:20-04:00March 7th, 2019|Blog|

In celebration of the first annual National Accounts Receivable Appreciation Day, we wanted to shine a light on you, the AR professional, and the huge task you are responsible for delivering each and every day. 1. 49% of B2B invoices in America are overdue Nearly half of all B2B invoices in America are overdue and almost all of B2B businesses in America (93%) have reported receiving late payments. 2. 66 days is the average DSO 50% of global payments are made between 31 and 90 days with 66 days being the average DSO globally. That number is much higher when you look at industries with long manufacturing processes. The Electronics, Machinery and Construction sectors all have average DSOs of above 85 days. 3. 26% of payment delays caused by incorrect information on invoices Incorrect information on invoices is the reason for ¼ of payment delays in America and 21% of Read More

4 03, 2019

Does Your Finance Team Need a Digital Transformation? 4 Questions to Ask Yourself

2019-03-04T14:12:22-04:00March 4th, 2019|Blog|

New technologies are transforming every aspect of business. From mobile to cloud, AI, IoT, RPA, blockchain and more, organizations who have undergone a digital transformation are experiencing more streamlined processes, unprecedented efficiencies, deeper insights and happier customers. As finance is traditionally considered a back-office function, it is often overlooked for cutting-edge digital projects. It’s up to the CFO to champion for change. But how can you, as that finance leader, be sure of the need? Here are 4 questions you can ask yourself to discover if your finance organization needs a digital transformation: 1. Am I armed for leadership table discussions? Of all the players who sit at the leadership table, only the CFO or the senior finance executive can speak to the company’s ability to handle the ongoing cost of doing business. In order to provide actionable insight, you need systems in place that arm you with accurate, real-time Read More

25 02, 2019

3 Strategies for Dealing with Slow or Non-Paying Clients

2019-02-25T15:37:46-04:00February 25th, 2019|Blog|

In this age of seemingly endless "disruptive" finance technologies, there are a number of areas where CFOs can choose to invest. The key is to invest in the technologies that will benefit your customers, your end-users, and your organization not just now, but over the long term. One area that bears heavy consideration for those disruption dollars is your customer experience. Though not normally considered the responsibility of the AR or finance teams, keeping customers happy must be a shared duty. Why? Because today’s customers demand it. For a customer to be truly happy - to the point where they part with money, repeatedly, and recommend others to do the same - they require a great experience with every interaction, including post-sale billing and payments. The accounts receivable process has a vital impact on the customer experience. If it’s easy, seamless and quick, the customer will remember it as one Read More

20 02, 2019

How to Finance Transformational Change by Unlocking your Working Capital

2019-02-20T14:39:16-04:00February 20th, 2019|Blog|

Cash flow is the lifeblood of any business. The key to increasing cash flow on a consistent basis is to collect payments faster, decrease Days Sales Outstanding (DSO) and reduce business expenses. Although an area of finance commonly overlooked – and in large part because it has been overlooked for so long – the Accounts Receivable department can achieve these goals by creating efficiencies in the invoice-to-cash process. And the fastest and most effective way of doing that? Automate. How AR Automation Increases Working Capital Automating the accounts receivable process: Allows B2B buyers to pay online using secure electronic payment options, thereby reducing the business expenses of processing paper transactions, Optimizes the invoice delivery channel so that invoices can be accurately tracked as received and read, providing greater visibility for the collections team so they can apply their time more effectively, Optimizes the invoice delivery timing so invoices are sent Read More

16 01, 2019

CFO Tech Outlook: The New Standard in AR Automation

2019-02-20T14:21:02-04:00January 16th, 2019|Blog|

VersaPay was featured in the December 2018 issue of CFO Tech Outlook. In the cover story, our CEO Craig O’Neill explains the idea behind VersaPay, how VersaPay ARC empowers organizations through automation, and the many benefits of a holistic platform. Click here to download and read the full story.