One of the main goals for finance team is to improve working capital. This blog will focus on a few ways that the Accounts Receivable team can help improve working capital for an organization. Working capital is especially important for SME, as they have fewer financing options than larger organizations.
Working capital is very important to a business and accounts receivable goals can help make sure your business has the cashflow it needs. There are many strategies that can be used to help increase your working capital. This can include improved process and technology, like OnePosting’s AR solution. It can be difficult to know how the finance team is progressing without setting and measuring accounts receivable goals. Here are a few accounts receivable goals that your organization could be using.
e-Invoicing software is key at helping organizations jump from paper based to electronic invoices.There are still many companies using paper-based invoices, but e-invoicing is growing at approximately 20% a year. The change is happening for many different reasons. In some cases, rules in countries, especially developing countries, where they are enforcing the use of e-invoicing. This is often being done for tax compliance reasons. There are many benefits for organizations to use e-invoicing software to make the change including reducing costs, improving productivity, getting paid faster, and many more things. Making a switch to e-invoicing software is an important decision for an organization. Here are a few things that organizations should consider when selecting e-invoicing software.
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