In today’s fast-paced environment, organizations must strive for advanced levels of efficiency. Everyone wants to be efficient, but that is not always the best approach when communicating to customers, especially if a response from your customer is required. Key
Days Sales Outstanding (DSO) is a major account receivable (AR) KPI and goal for accounting departments. DSO increased for many companies over the past 18 months and remains a challenge in the economic recovery. Many
Losing a customer can result in a hit to your profits and shareholder value. Finding new customers can be difficult and expensive. Companies are increasingly recognizing the importance of customer experience and its impact on
With the emergence from the pandemic, many employees have questioned their careers and choice of employer; making the decision to change employers and/or career paths, prompting a new phenomenon dubbed the “Great Resignation”. Current estimates
Late payments are an all-too-common problem as the economy continues to recover from the pandemic. Many companies are stretching accounts payable and using suppliers as a source of working capital, in turn delaying payments far
It’s a challenge to stay ahead of the curve on late payments using manual accounts receivable (AR) processes. Manual AR systems tie your team up with low-value tasks, reducing the time available for collections.
Gain Meaningful Experience through an Engineering Internship with Lockstep In Summer 2021, Lockstep introduced our first internship for software engineers. We were amazed at the response our program received from the academic community, and
SWK Technologies, Inc., a national provider of business management technology solutions and services, announced that it has added Lockstep Collect, the world’s first connected accounting cloud, and VelocIT Business Solutions, a custom software development
Persistence is key to collecting on-time payments, but it takes a lot of time and discipline to be successful with manual accounts receivable (AR) processes. Customers that are contacted regularly for payment know you mean
Make it easy for customers to pay you by accepting all forms of payment including: electronic transfer, automated clearing house (ACH), credit cards, fintech payment processors such as PayPal, and paper checks. It will facilitate
The choice of invoice payment terms and conditions can ensure timely payment of your invoices. You need to consider a number of factors before deciding which payment terms to use. Choosing the wrong payment terms
Accurate invoices are a necessity to ensure that your invoices are paid on-time. Inaccuracy can lead to invoice disputes and delays in payment. Payment delays reduce cash flow and increase DSOs, a situation many companies
Manually creating invoices from scratch is a time consuming task. In an office with manual AR processes, invoicing is juggled with other competing priorities. Instead of making invoicing a top priority, manual offices often
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