Blog2019-01-14T11:52:04+00:00
1307, 2016

The True Cost of Not Automating your Accounts Receivable.

By |July 13th, 2016|Categories: 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

2706, 2016

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

By |June 27th, 2016|Categories: 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

906, 2016

The “CFO” is Keeping your CFO up at Night

By |June 9th, 2016|Categories: Apply Cash Easily, Blog, Collect Smarter, Gain Insight Into AR|

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. According to a survey of 650 CFOs by Protiviti, CFO’s are seeking more precision and efficiency in cash forecasting, period-end close and reconciliation and consolidation activities. Protiviti highlights that, “cash forecasting represents one of the highest-ranked priorities, which may be indicative of the tepid economic recovery in many industries.” So, if cash flow and forecasting is a main objective, how is this performing and was it one of your priorities on your new years to do list? A couple of weeks ago, we hosted a webinar with Pam Krank, President of the Credit Department (TCD). She has great insight into cash flow with over 37 Read More

305, 2016

Why you need to digitize your accounts receivable…even if you don’t want to.

By |May 3rd, 2016|Categories: Blog, Collect Smarter, Get Paid Faster, Make Customers Happy, Save Time and Money|Tags: , , |

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. Read More

1503, 2016

Does the value of credit card acceptance outweigh the cost? For some B2B businesses, it does.

By |March 15th, 2016|Categories: Blog, Get Paid Faster, Make Customers Happy, Save Time and Money|

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.  Read More

902, 2016

How Sihl Corporation Leverages AR Automation to Produce a Healthy Cash Flow and Happy Customers

By |February 9th, 2016|Categories: Blog, Collect Smarter, Get Paid Faster, Make Customers Happy|

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. Read More

2801, 2016

Software: Build or Buy?

By |January 28th, 2016|Categories: Blog, Save Time and Money|Tags: , , , |

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? Read More

1301, 2016

What is the secret to an effective accounts receivable department?

By |January 13th, 2016|Categories: Blog, Collect Smarter, Gain Insight Into AR|

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. Read More

312, 2015

Millennials are here to stay: Is your Accounts Receivable process ready?

By |December 3rd, 2015|Categories: Blog, Collect Smarter|

A couple weeks ago, we attended the Receivable Management Association’s annual conference in Toronto. The keynote speaker, Lisa Nelson, President of Equifax Canada challenged the audience to think about big ideas, and how they can innovate to differentiate. She spoke passionately about the coming cohort, the Millennials, a group that now out populates the baby boomers in the US. Read More

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