9 Key Accounts Receivable KPIs and Metrics For Managing A/R

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DSO, DDO, and KPIs For Managing Accounts Receivable Since accounts receivable management and working capital are critical to your business, it is important to monitor the Key Performance Indicators (KPIs) and other metrics that track your company’s credit, collections, and deduction management results. As businesses have become more complex and even global, standardized analytics have… Read more »

Curing Slow Pay Customers

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Training Chronic Slow Paying Customers  Debtor psychology is that if their debt is 180-360 days old, they figure they’ll never have to pay it, certainly not the full amount. Chronic slow-paying customers can be re-trained to be profitable, long-term relationships, but they require constant attention so that they do not age out to the point… Read more »

Improving your bottom-line with AR automation

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Advanced technologies, including robotic process automation (RPA), will forever change accounts receivable, collections, and deduction management. For many companies, partly manual accounts receivable operations represent “low hanging fruit.” Like most other back-office functions, receivables management was a manual affair as recently as twenty or thirty years ago, working off printed agings, typing reconciliations and letters,… Read more »

Statute of Limitations for Contract Debts

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The Statute of Limitations for lawsuits varies by state, and runs anywhere from 3 to 15 years, after which the debt is “time-barred,” and you will be unable to sue.  You should use every legal means at your disposal, of course,  but if you wait too long and rely on a last-minute lawsuit as a… Read more »

B2B Credit Scoring Best Practices

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There are many excellent reasons to incorporate automated credit scoring in your credit (and collection) operations, including faster and better quality decisions, enhanced customer service, more effective compliance and controls, and significantly reduced overhead. Employing credit scoring in a B2B environment is in itself a credit management  “Best Practice”, especially if you have many customers…. Read more »

Collection Practices That Reduce DSO and Increase Cash Flow

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Accounts receivable collection at many companies is still done the way it was in the green eyeshade era, leaving a great deal that can be done to improve results. Like many repetitive processes, collections is a “production” operation, and can be “re-engineered” to improve cash flow, reduce DSO and slash the disputes that result from letting unpaid accounts go stale…. Read more »

Smyyth Collection Unit Gets Top Ranking Again

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For the third year in a row, Smyyth Collections LLC was selected as the top independent commercial (B2B) agency in a published rating of Collection Agencies in North America based on credibility, reputation and other factors. Smyyth Collections is an affiliate of the Smyyth companies, which provides end-to-end credit and accounts receivable management services and SaaS “credit to… Read more »

Best Practices For Credit and Collections

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Best Practices to Include in our Credit and Collections processes include All employees need to understand the mission and objectives of the credit department, so they deliver a consistent message to the customers and properly represent the “culture” of your organization. Just as with customer service, the mission of the credit department has to be… Read more »

Supplier Portals Impact the Invoicing and Payment Lifecycle

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“Collaboration Portals” or “Supplier Portals” are being implemented by many companies to facilitate billing, payments and problem solving between companies, their employees, and their external partners, especially customers. This has important benefits for streamlined customer service, efficiency, and improving cash flow. Having the seller and the buyer on the same platform removes much of the… Read more »

Workflow & Collaboration Tools Deliver Superior Results

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Workflow Automation is the single most impactful type of technology you can introduce to accomplish more with less. Adding staff is often not an option nor is it a real solution to your challenges related to transaction volumes. We all know how workflows are helpful in our personal or business lives. Wake up, walk the… Read more »