10 Easy Ways to Employ Tactics to Get Paid Faster

How Fortune 1000 companies and SMEs automate credit and accounts receivable operations to improve productivity and collect open A/R faster.


Chapter 01

Executive Summary

Chapter 02

Improving the Invoicing and Payment Process

Chapter 03

Ensuring That the Customer Data is Up to Date

Chapter 04

Deciding Who to Contact on Any Given Day

Chapter 05

Collections Correspondence Strategies

Chapter 06

Customer Onboarding and Credit Approval Process

Chapter 07

Eliminating Subjectivity from the Credit Review Process

Chapter 08

Doubling Down on Collections by Eliminating Waste from Cash-Application Process

Chapter 09

Eliminating Waste from the Deductions Process

Chapter 10

Collaborating with Buyer A/P teams

Chapter 11

Leveraging a Connected Platform for All of Credit-to-Cash

Chapter 12


Chapter 13

About HighRadius
Chapter 01

Executive Summary

CFOs rightly refers to “cash” as the oxygen for the business. However, an American Express report reveals that more than 46% of businesses experienced a cash flow crunch in the last year. In an ideal world, A/R cash, however, businesses routinely experience bad-debt write-offs and late Payments leading to a cash crunch.

Finance leaders worldwide have started with defining credit policies and driving teams towards adherence by incorporating Six-sigma process design and technology. In the process, finance leaders have also succeeded in shifting resources from tactical activities including cash application to strategic ones including credit and collections by embracing digitization of invoicing and remittance processes.

This ebook has distilled insights from a study of credit and A/R transformation projects at 300+ organizations on how Fortune 1000 companies and SMEs improved the collections process to get paid faster and thereby reduced DSO by 10%-20%.

The first four chapters focus on improving invoicing and collections process that has a direct impact on late payments, the following two chapters discuss the credit management piece that is often the root cause of delinquent accounts, chapters 7 and 8 focus on how resource-intensive operations in cash application and disputes clog A/R resources and how teams could automate these processes to move resources into credit and collections and the last two chapters focus on how to improve collaboration within the A/R team and also with the customer A/P team to ensure higher customer satisfaction and reduce delinquency.

Key Takeaways of this book include:

  • Ensuring compliance with credit policy with collections strategies
  • Lowering credit risk exposure through the proactive credit review process for existing and new customers
  • Facilitating ways to improve electronic invoicing and payments adoption and cut costs by 90%
  • Eliminating wastage in resource-intensive processes including cash application and deductions to refocus on credit and collections.



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