“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.
THE NUMBER ONE BENEFIT OF USING ACCOUNTS RECEIVABLE MANAGEMENT SOFTARE
In a department not utilizing accounts receivable management software, a lot of time is spent doing manual tasks. You’re stuffing envelopes with invoices, creating and sending emails to each customer, working off of spreadsheets with
3 ACCOUNTS RECEIVABLE FINANCIAL REPORTS YOUR DEPARTMENT NEEDS
One of the most important tasks you can do in accounts receivable is run an analysis in your department to see where you stand. There is no way to continue improving at your job
7 TIPS FOR ACCOUNTS RECEIVABLE COLLECTION IN THE TECHNOLOGY SECTOR
Over the past few 10 years, days sales outstanding in the technology sector has been increasing. Those in software and technology know that their sales cycles tend to take longer and their contracts and
4 IMPORTANT FACTORS TO UNDERSTANDING HOW TRADE CREDIT INSURANCE WORKS
Using trade credit insurance – an insurance policy taken out on extensions of credit to customers – can help to protect companies from any risks. But how exactly does all of it work? No
A HOW-TO GUIDE FOR MITIGATING CREDIT RISK: 4 EASY STRATEGIES
When you’re a company that extends credit to other businesses for sales opportunities, you can run into some risky situations. You can end up providing the product or services and the customer turns around
HOW TO FIX YOUR CREDIT AND COLLECTIONS MANAGEMENT PROBLEMS
Wondering how to solve your collection problems? To truly get the most out of your credit and collections management, you first need to get to know your business from top to bottom. Figure out
How to Completely Overhaul Your Credit and Collections Process
They say the definition of crazy is doing the same thing over and over again and expecting a different result. Sometimes we get stuck in a rut in our daily
HOW TO IDENTIFY PROBLEMS TO OVERHAUL CREDIT AND COLLECTIONS MANAGEMENT
When overhauling your credit and collections management process, the first step is taking a closer look at the identity of your company. Once you’ve identified who your customers are and what industry you’re serving,
QUICK TIPS FOR OVERHAULING YOUR CREDIT AND COLLECTIONS MANAGEMENT
Collecting from customers is the ultimate frustration for most business owners. Often times, however, it does not have to be as difficult and aggravating as it is. Most companies suffer from simple disorganization in
HOW TO WORK SMARTER IN ACCOUNTS RECEIVABLE
When it comes to setting customer credit limits it’s important to remember that the goal of a credit limit is not to prevent customers from buying more, rather to maximize the relationship while taking
HOW TO IMPROVE ACCOUNTS RECEIVABLE IN MANUFACTURING
ERP software can manage almost everything you would ever need in a manufacturing company. From materials planning to inventory and supply chain management. Unfortunately, the accounting software isn’t always the best. Accounts receivable are
HOW TO SPOT AR COLLECTION PROBLEMS
If you’re having a hard time getting paid on time, you’re not alone. Companies across industries and of various shapes and sizes have trouble with accounts receivable collection, but before you can solve the problem,
THREE WAYS TO OPTIMIZE YOUR ACCOUNTS RECEIVABLE PROCESS
Everyone wants a quick fix to their issues, it comes with the age of instantaneous access. You don’t have to wait until you get to the library to find the answer you’re looking for, just
WHO IS RESPONSIBLE FOR DEVELOPING CREDIT TERMS?
Before any credit is extended to a customer, it’s important to have credit terms in place. It guides the credit department in creating a solid plan for every case they come across, instead of just
