AR Best-Practices: 5 Steps to Strategic Customer AP Relations and Lower DSO

Key Takeaways

Reducing receivables processing costs by driving electronic invoicing and payment adoption with small and medium businesses which make up 80% of customer accounts
Faster receivables conversion by offering transparent information on early-payment discount information coupled with access to convenient payment options
Maximizing top-line growth by virtually eliminating blocked orders and credit holds using real-time collaboration with customer AP teams
Improving the customer experience with transparent and quick resolution of credit issues, customer claims, disputes and deductions
Reducing AP payment processing lead times by eliminating requirement of remittance information

Speakers

Chris Doxey, CAPP, CCSA, CICA, CPC Senior Trainer & Consultant, IOFM
Ron Jethani, Sr. Solution Principal, HighRadius

About The Webinar

A recent study by Ernst & Young estimates that The Top 1000 US companies could save more than 35% of the $375 billion dollars tied up in working capital through faster conversion of receivables.

While the speed of the credit-to-cash cycle heavily depends on terms dictated by the customer, a low-hanging fruit is the broken information exchange mechanism between Accounts Receivable (AR) and Accounts Payable (AP) teams which has traditionally been viewed as a transactional process.

From exchange of invoices, collaborating over payment terms and early-pay discounts, acquiring accurate remittance information and providing convenient payment options, AR KPIs are heavily impacted due to largely manual, time-consuming collaboration and communication.

Register for this upcoming webinar to learn how companies such as Dr. Pepper Snapple, Yaskawa America, Inc. and Cargill Foods have strategically bridged the divide to reduce DSO by 10% and past-due AR by 75%.

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.