One of the top priorities of CFOs and finance leaders across industries is to manage the working capital. Accounts receivable teams aim to improve their collection efforts to impact cash flow. Therefore, the need of the hour is for organizations to develop collections strategies that increase the process effectiveness and help finance leaders achieve their long-term objectives. The right approach to developing a collection strategy begins by identifying the right set of objectives for the collections team.
Here are some evergreen collections best practices that could help teams enhance their productivity and efficiency.
The HighRadius RadiusOne A/R Suite is a complete accounts receivables solution designed for mid-sized businesses to put their order-to-cash on auto-pilot with AI-powered solutions. It leverages automation to fast-track key accounts receivable functions including eInvoicing & Collections, Cash Reconciliation, and Credit Risk Management powered by RadiusOne A/R Apps to improve productivity, maximize working capital, and enable faster cash conversion. Affordable, quick to deploy, and functionality-rich: it is pre-loaded with industry-specific best-practices and ready-to-plug with popular ERPs such as NetSuite and Sage Intacct. The HighRadius RadiusOne A/R Suite is designed to automate labor-intensive processes while streamlining credit and collections activities for faster A/R processing, better cash flow and improved profitability.
Lightning-fast Remote Deployment | Minimal IT Dependency
Prepackaged Modules with Industry-Specific Best Practices.