5 Essential Credit and A/R Skills To Move Up The Career Ladder


An insightful summary of the essential skills required to steer your accounts receivable in the right direction while climbing your career ladder at the same time!

Contents

Chapter 01

Preamble

Chapter 02

Defining the 5 Essential Skills

Chapter 03

Skill #1 Drive Compliance

Chapter 04

Skill #2 Standardize Collections

Chapter 05

Skill #3 Minimize Credit Risk

Chapter 06

Skill #4 Process Improvement

Chapter 07

Skill #5 Transform A/R Operations

Chapter 08

Summary

Chapter 09

About HighRadius
Chapter 01

Preamble


Accounts Receivable used to just be about dialing for dollars, but it has now transformed into a strategic function that helps CFOs improve working capital management and reduce bad-debt write-offs. In addition, A/R departments have been experiencing exponential raises in productivity through the aid of advanced technologies, such as Artificial Intelligence and robotic process automation.

As an A/R professional experiencing this digital transformation, are you wondering what skills do you need to stay ahead of the curve? We have the answer.

According to a recent survey by HighRadius:

✓ 53% of the A/R professionals surveyed consider understanding the transformation of A/R processes with new technologies such as AI and RPA to be the next big skill that they need to acquire.

✓ 26% believe that leveraging data analytics and reporting can help them slice and dice their accounts receivable to know the real issues.

✓ 16% believe that developing a robust credit and collections policy framework can help them rudder their accounts receivables in the right direction (away from bad debt!)

✓ 5% believe that defining a stringent collections strategy would be a key transformation in their A/R space.

What is the ‘next big thing’ for you in your credit and A/R career?

Keeping in mind these requirements of all the credit and A/R leaders, we have summarized the 5 key essential skills that any A/R personnel would need to excel in order to climb their career ladder. The following chapters describe these essential skills and what needs to be done to excel in each.

Survey done by HighRadius