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Podchats with FutureCFO: The smarter way of collecting and allocating cash
Manage episode 304983298 series 2912947
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According to PYMNTS, paper-based invoices cost businesses up to US$22 per invoice to process, and rises when invoices are delivered via post and fax machines. Such practices are some of the basic friction points in accounts receivables.
Accounts Receivable Automation process is increasingly becoming inevitable as it helps organizations reduce costs, time, and increases efficiency. Poor receivables processes impact credit decisions, corporate borrowing, liquidity management, reporting of corporate sales, and commissions to sales staff. Moreover, ineffective receivables processes make it difficult to know the status of an organization’s current financial position.
How do you then adjust your collection strategies to adapt to the changing business environment? And with the collection in place, is there a better way of allocating cash?
In this PodChats episode Ross MacKay, group head of global shared services and finance optimization for International SOS, joins Albert Leong, managing director of Esker Asia, as they share International SOS' journey in going about implementing a smarter way of collecting and allocating cash.
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