Your accounts receivable strategy is likely based around making sure your customer accounts are fully settled in a reasonable time. There are many ways to accomplish this, but ultimately, businesses want to feed their cash flow and fuel growth.
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.