The COVID-19 pandemic created massive uncertainty across all industries, changing everything from how work is done to how products are made. The financial industry was no different. Without a clear future, planning became more of a guessing game, and confidence in markets was shaken.
A quality accounts receivable operation is constantly looking at how it is performing, using data to determine what is working, what isn’t working, and why. A deep analysis of A/R will unveil efficiencies that may not be obvious and allow your business to do more without adding resources.
There are different theories on what exactly accounts receivable should be considered on a balance sheet. Most consider it an asset and something that can be leveraged against. However, anyone that has spent hours chasing payments may view it as a liability filled with uncertainty.