Shortening your collection cycles is a bit of a misnomer. What you really want to do is to keep customers from becoming very past due so your own company can run efficiently with the assurance of consistent cash flow. We all know you can’t just send an invoice and magically expect every customer to pay in full by the due date, so we need to be proactive. By working to prevent delinquency instead of waiting for it to happen you will shorten overall cycle times, improve cash flow and maintain control over the collection of accounts receivable.
What tips can you provide that has helped your company reduce its collection cycles?
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HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company that leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your…