The cash application process can be slowed or interrupted by numerous common complications involving remittances, allocations, ledger errors, and issues from outsourcing work. This survey revealed how organizations are minimizing these challenges (and the costs and delays they generate) and streamlining their cash application management.
Trends in Accounts Receivable Process
Collecting amounts due, assessing and granting credit, managing cash flow, and optimizing working capital are critical to the success of every company. What are companies doing to improve outcomes in these areas?
Reconciliation and period-close processes are notoriously labor intensive. Regardless, the financial statement must be produced on time, and it must be right. We asked finance and accounting executives how their teams are maintaining (and increasing) their efficiency and their strategic value in the organization.
Accounting teams are increasingly pressed to manage the financial close process faster and more accurately, often in spite of the tools available to them. This survey asked responders what tools are organizations using today, and how are they overcoming the challenges those tools and inherent processed create.