Accounts Receivable Optimization
Have you calculated the bottom-line impact of shortening the Order-to-Cash cycle, improving receivables turnover, and reducing revenue leakage? Can best practices in credit and receivables management increase your profitability and cash flow and reduce needed working capital?
Our experience includes accounts receivable technology for cost reduction, quality improvement, and financial performance improvement.
Reduce DSO, working capital, and increase cash flow
Increase collections using best practices, predictive prioritization using automation
Reduce DDO by improving deduction management processes and systems
Eliminate root causes of errors, deductions, and disputes
Accelerate credit approvals
Assure better vendor compliance and reduce vendor compliance and OTIF penalty deductions for billing, shipping, and order fulfillment errors from national chains such as Walmart, Target, Amazon, CVS, Walgreens, Kroget, Home Depot, and Lowes.
Improve your vendor scorecard, and become a preferred supplier.
Our consultants analyze the revenue cycle from beginning to end. In addition to applying best practices and resolving root causes, we implement metrics and coordinate efficiencies across departments for improved quality, service, and overall performance.
In general, a project will have four phases, but we aim to implement quick "wins" as soon as identified, throughout the project cycle, to provide immediate dollars and cents payback, and to establish a sound basis for the longer-term initiatives
Become familiar with your operations and the workflow by activity and function.
Gap Analysis and Benchmarking - to quantify the dollar potential for improvement by evaluating effectiveness of processes, as well as comparison with industry best practices.
Implementation - will focus on changing limiting conditions, resources, systems, processes, and presenting tangible results. We present a detailed written report, which would include key findings, specific recommendations, and next steps.
Knowledge Transfer - the tools, concepts, and recommendations that are implemented during the project are passed on to your team for long-term continuity.
We have operating backgrounds, so you will receive practical advice and achievable best practices recommendations. Accounts receivable abounds with opportunities to improve financial performance, including faster DSO, and reducing the deductions and disputes that eat away at your profits.
Ready to find out more?
Drop us a line today to arrange a no-obligation review!