Most accounts receivable professionals look up to industry leaders to help them navigate through best practices, new tactics, new technologies and general knowledge to help them get their companies paid faster. These industry leaders are accounts receivable rock stars and are extremely valuable in their professional space.
It’s easy to think that achieving this kind of status in the accounts receivable industry is difficult or unattainable. These accounts receivable rock stars didn’t just get where they are because they are book smart or have the best degree from the best schools. These accounts receivable professionals got where they are because they worked hard and became creative. Instead of following a script, they came up with new ways to get their companies paid faster.
It’s not impossible to also achieve this accounts receivable rock star status. There are a few simple steps that you can follow to start working your way up to becoming an innovator in the industry.
Continuing education doesn’t mean you need to enroll yourself in school and get another degree. There are a lot of ways you can continue gaining knowledge in the accounts receivable space at home or in the workplace. And not all of these options will even cost you money.
- Become a member of the National Association of Credit Management. They have online courses, certificate programs, conference events and online webinars that can keep you on track with your accounts receivable and credit knowledge.
- Sign up for a subscription with Lynda.com, run by Linkedin. The library of online videos helps with understanding different accounts receivable functions, technologies and tips.
- Sign up with Lorman. This online training program offers live webinars, ondemand webinars and online courses with over 200 collections courses and resources to choose from.
- Read and check ReceivableSavvy’s blogs and podcasts daily. Industry experts contribute with best practices, research and news. This website will help you stay abreast of recent advancements in the industry, so you’re always ahead of the game.
- Read and check Lockstep Collect’s blogs and whitepapers daily. This website with free membership has tons of tips and tricks to help get your creative juices flowing for faster collection processes.
LEVERAGE SOCIAL MEDIA
Many industry experts are on social media, creating a network of knowledge and expanding on their continued education. Here, you can share with your peers any new processes you have found that work or look for answers to a problem you can’t seem to solve. The two best networks to rely on are Linkedin and Twitter. To get started on Linkedin, try joining professional groups for accounts receivable such as this one.
Networking doesn’t always mean you have to leave the office (thanks to social media), although it definitely can help. Get involved with some local chapters of associations like the Credit Research Foundation, the National Association of Credit Management or ACA International. Join these groups for conferences, learning nights and get to know other professionals in your area. These are people you can turn to when you need help overcoming difficult collections scenarios. Combining the knowledge of many to overcome issues is always a better option than trying to solve it all on your own.
TAKE ADVANTAGE OF AR TECHNOLOGY
The entire accounting industry is turning towards technology to make processes more efficient and accurate. Many professionals are turning away from these technologies because they are afraid that they may replace their jobs. The belief is that, if they make the technology seem like it’s failing it will just go away, right?
Not really. Actually, the complete opposite is true. Technology will have a place in the accounts receivable industry whether you resist it or not. The trick to ensuring you still have a place is embracing these technologies and becoming a leader in using them. Accounts receivable professionals will still need to be around to understand how to operate these technologies and come up with innovative ways to use them best. Be one of these accounts receivable rock stars and learn to use technology to your advantage, not your demise.
PUT NEW FOUND KNOWLEDGE TO THE TEST
It’s all well and good to continue your education, put yourself out there and learn new technologies. However, if you simply just soak this all up and never actually put it to good use, you still won’t be an accounts receivable rock star. Those leading the industry put this new found knowledge to the test. They put new processes in action and find what works best for their company. In the end, they forge the way for their company to get paid faster.