The majority of businesses now pay suppliers electronically because it is more convenient while also having better control over the signing process.
This is reflected in the analysis of methods to process an invoice for payment received by participants in the Credit Management Benchmark.
Continue reading Process an Invoice for Payment Received
We all know that sales are critical to any business but there are times when sales reps agree to customer demands in relation to invoicing that place additional workload on accounts receivable and credit functions. But is it the sales person or customer who causes special handling overhead?
Continue reading Sales or Customers: Who Causes ‘Special Handling’ Overhead?
It is clear from the results of the Credit Management Benchmark and from a review of various LinkedIn groups, that there is often conflict between sales and credit teams. Sales must have a laser-like focus on achieving their sales targets, and a task like credit screening is seen as a distraction. Even worse, declining to open a credit account for a customer can be seen by sales as the credit function creating barriers to their work.
Continue reading 5 Tips to Get the Sales Team Aligned with the Credit Team