modernizing accounts receivable

Things To Consider When Modernizing Accounts Receivable

Modernizing accounts receivable is often low hanging fruit for medium sized B2B organizations. We have written recently on the Future of AP Software, but there are also significant improvements available through modernization of account receivable. A study from Altradius found that the average credit terms in North America was 27 days but average payment duration was 61 days. That is a large gap and can be very problematic for an AR Department. Many B2B organizations still have antiquated AR processes which is not helping their customers pay them on time. Modernization of accounts receivable makes things easier for customer and also reduces manual effort. Here are the main components in modernizing accounts receivable.
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Invoice Software Onboarding

One of the challenges with Invoice Software, any kind of software, is getting stakeholders on-boarded. Invoice Software could be used by your employees, customers, suppliers and partners. This is why it’s important to make sure that everyone involved can access your invoice software for seamless processing and sharing. Here are a few things to consider when you are looking to integrate a new Invoice Software solution.
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