“Our DSOs are down and we have beaten our collections targets for two quarters in a row. I attribute that to ramping up on Lockstep Collect and it’s automation.”
See how accounting departments are succeeding with Lockstep Collect.
How to Get Rid of Paper in Accounting
An office cramped with filing cabinets and buried in paper is inefficient and can hinder collections and cash flow. Here are just a few problems with paper: Paper is expensive and a wasteful. It
The State of Paper in Accounting
The old fashioned notion that an office cluttered with paper is the sign of a productive, hard-working staff is long gone, but in many offices the paper is still there. Paper is the bane of
The Integrity of Master Data in Accounting
The integrity of vendor and customer master data is a persistent and nagging problem for many companies that causes errors and inefficiencies that increase costs and reduce cash flow. Operational errors, disputes, and chargebacks
Profile Management Email Reminder Templates
Profile management is essential to setting up master data for new customers and vendors, and maintaining it for existing ones. Master data that isn’t clean and up to date can cause numerous problems including: Billing
How to Collect Customer Master Data for Quicker Payment
Having accurate and complete customer master data is essential to efficient and quick collection of payments. Think about how much time your AR team wastes writing emails to people that no longer work at
How to Onboard New Customers for a Smooth Accounting Hand-Off
The onboarding sequence is a key business process for setting up new customer profiles, populated with the correct master data needed to make transactions flow smoothly and error free. Onboarding a new customer is
The Information Every Accounting Department Should Be Collecting on their Vendors and Customers
Well run businesses operate with correct and up-to-date master data on their vendors and customers. Software applications in all operating and administrative areas use master data to drive queries, information analysis and reporting. If
Measuring and Testing Your Collections Emails for Continued Success
Emails are an essential part of your collection strategy. Crafting effective emails that avoid SPAM filters and are actually opened, read and acted upon by your customers takes a lot of effort. Automated credit and
With Collection Emails, Timing and Frequency Matters
It can take a lot of time and skill to create collection emails that avoid SPAM filters, grab the recipient’s attention with subject lines and preview text, and convince the reader to act with
How to Use Calls to Action to Collect Payment Quickly
If your emails make it through SPAM filters, you still need to get your email noticed with a subject line or preview text that grabs the customer’s attention. Even if your email is read, your
Why You Should Take the Time to Personalize Your Collection Emails
Business professionals are challenged to keep up with the demands of their jobs in the new normal. They struggle to read and respond to the emails that make it past SPAM filters. As a consequence,
Developing Compelling Content for Persuasive Collection Emails
Reaching customers is essential for achieving collection goals and increasing cash flow. Your collection team probably can’t call every past due account, so you need alternative forms of communication to contact customers. Email should
Understanding the Value of Preview Text for Collection Emails
Successful collections are dependent on your ability to reach your customer with a message that gets their attention and results in prompt payment of past due invoices. Email messages are a key part of
How to Craft Perfect Collection Email Subject Lines
Achieving collections and cash flow goals is very challenging in the new normal. Many companies in industries affected by the business recession are delaying payments and stretching suppliers to conserve cash until the economy