10 Signs That Your Accounts Receivable Process Needs Modernising

Despite the importance of AR and the risks associated with outstanding debt, many businesses don’t enforce AR processes, controls and visibility to protect their business and cashflow. Basic AR policies often exist around what to bill, how to much to bill and when to bill but they are often not stuck to or enforced through processes. Furthermore tasks such as tracking, alerts, reminders as well as managing collections, risk accounts or risk cases are neglected until it is too late.

Many AR teams are still struggling with a long list of exceptions, manual tasks and risks along the AR process. It is also true that while Accounts Receivable might seem like the cause, the actual cause of issues may be further up the Quote to Cash process in sales order processing, contract management, terms, credit checks etc.

Here some common signs you have an Accounts Receivable or wider Quote to Cash challenge:

Cash flow control & visibility issues.

Can’t handle peaks and troughs in collections/ AR activities or the month end squeeze.

Incomplete or incorrect information impacting customer communications/ follow-up.

Manual and unreliable receivables data, reporting and forecasts.

Consistently not getting paid on time and within terms.

Maintaining good relationships with customers that consistently fail to pay on time.

Weak credit approvals and lines of credit management.

Collections from customers that maybe failing.

Resolving non-payment dispute cases.

Increasing outstanding debt and debt write offs.

More Information & How Can We Help?

We offer no-obligation consultations to help you identify and consider the options and right approach for your organisation. To find out more or to book a consultation, please call +44 (0)1962 835053, email enquiries@processflows.co.uk, or fill in the form below.

Thank you for your interest, we look forward to working with you.

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