We have profound experience in maintaining accounts receivable processes for a number of global clients. This includes assisting clients streamline their process by accessing financial and credit history, setting up strict and clear payment terms, online invoicing, offering different payment methods. We also follow a data-driven AR policy and measure the effectiveness of the policy with key metrics like day Sales Outstanding, Collection Effectiveness Index, and AR Turnover Ratio.
Banking on our strategic accounts receivable solutions our clients have been able to build a systemized approach to issuing invoices and collecting payments. The approach has enabled them to develop a neat billing and credit approval process, maintain customer data in a more organized way, fine tune billing terms, reduce waste, and improve bottom line. We also help you track receivables before they become delinquent and create cash flow problems for you. We have the expertise in reviewing open invoices, categorizing customers based on the aging schedule, creating a list of customers with outstanding invoices and more.
Our Accounts Receivable Process
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Generate Invoices
Our team creates and sends invoices to customers for products or services provided.
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Track Receivables
We monitor outstanding payments and update records for customer accounts instantly.
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Follow up on Overdue Payments
Further, we send reminders and follow up with customers with overdue balances.
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Send Reminders
We issue payment reminders to customers with overdue invoices to encourage timely payments.
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Receive Payments
Our team next processes incoming payments through various methods like cash, checks, or electronic transfers.
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Apply Payments
We also allocate received funds to the corresponding customer accounts and mark invoices as paid.
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Handle Disputes
In this step, we address any payment discrepancies or billing issues with customers to resolve disputes.
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Follow-up on Delinquencies
In addition, our team engages in collections efforts for seriously overdue accounts to recover outstanding balances.
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Generate Reports
We prepare periodic reports summarizing accounts receivable status for management review.
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Monitor Aging Report
Our team regularly reviews the aging report to identify and manage outstanding receivables.
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