The Collections Operations Maturity Model: How Leading A/R Teams Lower DSO by Enabling People, Process, Data, Collaboration and Technology
While credit and accounts receivable departments are trying keep more than 90% of their receivables current (within payment terms), the reality is that more than 38% of invoices are not paid on time.
While most A/R teams attempt changing payment terms, Six-Sigma process design and technology adoption to control past-due A/R – the success stories are far and few in between.
Research on more than 500 receivables projects has concluded that credit and A/R leaders are more likely to positively impact A/R KPIs if they start with an assessment of their collections operation maturity on parameters including – people, processes, data, collaboration and technology.
The Collections Operations Maturity Model has been devised to help finance decision makers perform and in-depth evaluation of their current operations and identify clear next steps to advance up the maturity pyramid.
In the upcoming webinar, join A/R technology expert Jay Tchakarov as he takes you through The Collections Operations Maturity Model.
Key takeaways include:
Top questions to answer in order to classify your operations on the maturity model – from Ad Hoc to Proactive
Key considerations to evaluate your process on the parameters of people, process design, data-based decision-making, cross-team collaboration and technology
Next steps and timelines for progressing from one maturity level to the other
Essential elements to fundamentally transform collections management from a reactive process to a proactive one
Jay Tchakarov, Vice President – Marketing, HighRadius Corporation