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The three common cash application challenges A/R teams often face are: working with various bank file types such as lockbox services and bank lockbox services, matching huge volumes of remittances with their corresponding invoices manually, and payment reconciliation issues. Wondering how to scale up your cash posting process amongst these tough challenges?
Through cash application and A/R process management. The process aims at improving your cash flow and cash visibility and streamlines bank statements, lockboxes, customer remittances, customer portals, deductions, and email remittances.
Watch this tutorial to learn how to track and streamline these processes through cash application KPIs and tracking. Learn how to establish real-time updates on setting and standardizing company-wide cash application processes, locating and eliminating inefficiencies in processes, and improving remittance reconciliation and matching invoices accurately while improving your productivity. Watch the full tutorial to learn how to establish cash application KPIs and reporting for your business.
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John M. Donovan | Advisory Services Consultant, Quote to Payment Subject Matter Expert | ![]() | John M. Donovan is a senior financial services executive specializing in all aspects of the Order-to-Cash and back-office processes. Managed several very large global A/R portfolios for major Fortune 100 and 500 high-growth companies in various stages of delivery and transition, as well as small companies in a startup and growth mode. |
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topic | kpis-and-reporting | input |