A study revealed that more than 38% of the invoices are not paid on time. This is despite the fact that your team is prioritizing accounts to reach out to based on invoice value and past due dates.
Credit at A/R managers at Fortune 1000 companies and SMBs faced similar challenges and decided to leverage inputs from across other A/R processes including invoicing, dispute management, credit and cash application to prioritize customers for dunning. This helped them identify customers who had invalid deductions or who were approaching credit limits, so that they could prioritize their accounts better.
Download the PDF below to get details on the seven parameters your peers in the credit and collections departments leverage to ensure that 90% of their receivables are in the 1-30-day aging bucket.