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Having cash tied up in the accounts receivable process means less cash flow for the business. C2C Resources explains why businesses of all sizes should move to an automated process.
Atlanta, GA (PRWEB) July 08, 2014
C2C Resources, a global commercial debt collection firm, released the top three benefits of utilizing accounts receivable automation technology for businesses. The company believes that small, mid-market and enterprise companies should be utilizing a system or pair of systems that both assist with accounting and provides automation for following-up with delinquent businesses.
It really comes down to moving your company into the 21st century, explained Todd Tinkler, President of C2C Resources. We understand that most businesses use accounting software, making it easy to bill customers and run lists of delinquent payers; but the cycle is not complete until you actually receive the payment. You should be following up with customers so that you get paid for the services you provide.
Tinkler believes that both customers and companies will benefit from reducing manual processes throughout the entire payment cycle. Below he lists the top three benefits for accounts receivable systems that automate the process from order to payment.
1. Growth potential
Not only will automation make the process more efficient, but it will provide the company room for growth. Through automation, the company can now process a higher-volume at a faster rate, which helps both the companys cash flow and the relationship with the vendors and customers. Automating the process allows companies to focus less on extracting data and remembering deadlines for every customer and more on addressing any potential problem that may arise during the payment cycle.
Businesses need to run as a well, oiled machine. If the company has a high employee turnover rate or continues to grow their team, by utilizing automation software the company can be more accountable on the payment schedules for each customer. Instead of adding calendar reminders in individual Outlook accounts of when to begin collection calling, all of that would be scheduled within the system. That way, if a person is on vacation or leaves the company, everything is within one system and not on the to-do list in the mind of the employee.
3. Reduce Days Sales Outstanding (DSO)
Tinkler believes the ultimate goal of a business should be cash flow. The more cash a company has, the more they can use to invest back into the business. The less money that is being tied up by accounts receivable the more the company can invest. By using automation software, no customer will be allowed to slip through the cracks.
C2C Resources offers a free web-based software tool for small businesses to complete the follow-up with customers who have past due invoices. Profit Maximizer reduces the need for a collection agency because companies can follow-up on invoices through scheduling reminders and sending letters and emails. The management system features multiple import options including a direct link with QuickBooks.
About C2C Resources:
C2C Resources is a global Commercial Debt Collection agency headquartered in Atlanta, Georgia. The company collects commercial debt on behalf of their over 20,000 clients and is considered one of the top agencies in the country. The executive team at C2C brings more than 60 years of experience helping businesses collect their accounts receivable.
C2Cs powerful combination of Profit Maximizer, InfoMax Collection System, and Legal Forwarding Edge, can help your company be more effective with your own in-house collecting and maximize recovery of accounts turned over for collection.
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