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!
Bad debt is inevitable regardless of the industry or size of an enterprise. According to the ?Financial Accounts of the United States,? September 21, 2017, Federal Reserve Statistical Release, the amount of debt is approximate:
This certified data is enough to torture faint-hearted executives and drive the credit and collections team into a frenzy. However, the credit and collections team could alleviate this problem by understanding the various credit and collections laws that govern debt collection practices. Incorporating fair debt collection practices into collection processes is the first step to recover past due.
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.