Are You Using These AR Best Practices?

Financial transaction processing in today's environment is a critical operation for any enterprise. No matter the size of an entity or the nature of its business, there are logical, sensible and proven practices for cash receipts. Expediting receipts processing is a facet of reducing the cost of operations. In 2001 Ernst and Young conducted a study and concluded that accounts receivable operations within the transportation sector incurred costs that ranged from two to four percent of a total invoice. Even more importantly, good AR practices improve cash flow and cash management flexibility.

While every organization must adapt best practices to its own circumstances, all can benefit from better cash receipt practices