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Account receivable functions should be as easy as sending a bunch of invoices, making a few phone calls, and collecting cash. It must be the easiest job in the world, right? Well, once you get into the nuances of billing, you will quickly realize that it can get very complex with different payment arrangements, payment schedules, and partial payment options. Each industry may have its own requirements on how AR is supposed to be done. Each ERP system is likely to treat the AR processes differently. So what are the best practices for streamlining AR function?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss Account Receivable best practices. We discussed the process boundaries along with different processes that need to be supported by the AR function for different industries. Finally, they shared several stories related to the AR processes and lessons learned from them.
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WBSRocks: Business Growth with Enterprise Software and Digital Transformation