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.
Setting accounts payable goals can help organizations drive improvement and efficiencies. Effective goal setting can also motivate employees. Without goals it is challenging to make quantitative improvements to the parts of the business that have an administrative versus a revenue generating focus. Creating these goals can be challenging for some departments, including accounts payable. Here are a few examples of accounts payable goals that may be worth tracking for your organization.
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