CFOs rightly refer to “cash” as the oxygen of every business and A/R is the cheapest source of cash. However, businesses routinely experience bad-debt write-offs and delayed payments leading to a cash crunch.
Research on 500 receivables projects at companies including Danone, Bose and sugar foods has found that treasury teams rely on 10 simple and easy to implement tactics to get paid 2X faster.
Key Takeaways include:
- Addressing bottlenecks in invoicing and collections process to collect faster
- Fixing the root cause of delayed payments by allocating appropriate trade credit
- Facilitating collaboration between buyer A/P teams and the A/R team
- Unlock FTEs for credit and collections by improving productivity of resource intensive A/R processes