“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.
ACCOUNTS RECEIVABLE BEST PRACTICES CHECKLIST
As an accounts receivable management professional, you are well aware that there are just not enough hours in the day. You’re not alone; we are all constantly looking for ways to become more efficient
Collection Emails and Examples
Studies show that the more contact you have with customers, the more success you will have with collecting your open accounts receivable payments on time. The least amount of work goes into this step,
THE ESSENTIAL ELEMENTS OF A BUSINESS CREDIT APPLICATION
Obtaining a signed credit application should be an integral part of the process of extending credit to a customer. The application provides information necessary to determining the risk of not being paid in a
REDUCING THE RISK OF PAY-IF-PAID CLAUSES
Pay-If-Paid clauses tend to be a contractual issue specifically affecting businesses in the construction industry. It is rare to see them elsewhere, simply because this is almost one of the only industries where a product
HOW TO ATTAIN YOUR CREDIT AND COLLECTIONS GOALS
What is the overall goal of credit and collections? Simply put, it’s to regularly turn invoices into cash within the payment terms; but it’s not that simple. Most companies have to reach smaller incremental
UTILITIES
Arguably one of the hardest industries to collect on unpaid invoices is the utilities industry. Everyone complains about paying their utilities bill, and often times customers will go delinquent. The utilities is usually the
Order to Cash Cycle
WHAT IS THE ORDER TO CASH CYCLE? Order to cash, also referred to as O2C, OTC, or the quote-to-cash cycle, is the term used to describe the set of businesses processes for receiving and completing
7 Fears of Accounts Receivable Automation Put to Rest
7 Fears of Accounts Receivable Automation Put to Rest Introduction While automated accounts receivable management software is not a new business technology, it has become increasingly popular in recent years as more and more
Collections Representative
What is a collections representatives? A collections representative does the brunt of hard work in the accounts receivable department. These are people that are actively calling and emailing accounts to attempt to collect from past
Accounts Receivable Software Buyers Guide
Selecting the right accounts receivable credit and collections software for your business can be challenging. Download this guide analyzing the different options and requirements you should be considering when looking to invest in automating
MANAGING ACCOUNTS RECEIVABLE IN QUICKBOOKS
INTRODUCTION QuickBooks is one of the most popular accounting systems used by any business. There is an estimated 29.6 million small businesses in the United States using QuickBooks. The system is affordable, easy to
THE BENEFITS OF ONLINE BILL PAY
Benefits of Online Bill Pay Introduction Everything becomes easier as technology increases, we can do almost anything with the click of a button. However, this hasn’t translated to the B2B payments world yet. Businesses
Collection Letter Sample Templates
Collection Letter Templates Introduction Most accounts receivable professionals barely have time to make all the phone calls necessary and send out every email, let alone make an individualized past-due notice for every step of
11 POSITIONS IN YOUR COMPANY THAT CAN BENEFIT FROM ACCOUNTS RECEIVABLE AUTOMATION
INTRODUCTION Most would assume that when using an accounts receivable software, the only people that truly benefit from the solution are those in the accounts receivable department. It’s common to make this assumption since those