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.
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