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6 Ways to Maximize AR Collections

January 21, 2021blogaccounting, Accounts Receivableadmin

Accounts receivable is the most critical, yet challenging, process for any organization. Improper accounts receivable management leads to unhealthy cash inflows and easily to the downfall of a business. There are several challenges that businesses face during their accounts receivable process cycle like incorrect data, errors in invoicing, invoice delivery problems and resource problems.

If companies take control of their accounts receivable process and employ the right steps and related tools, they can overcome these challenges in no time at all. Some of the steps to maximize AR collections are outlined below:

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Smart Accounting for Smart Businesses

January 21, 2021blogAccounts Receivable, Grocery, healthcare, Non-profit, Payroll, Payroll processing, payroll services, Restaurants, retail, technologyadmin

In today’s highly competitive world of business, optimum utilization of time plays a vital role for a business’s sustainable growth. Considerable time of SMB owners is consumed in Payroll processing, managing cash flows, getting customers pay on time, keeping the costs down and increasing their profitability. As a result, there is no time to focus on the growth of their business. To thrive in a world where seemingly everyone is a competition, it is very important for a business to be dynamic. SMB owners need to wear multiple hats to manage their time and concurrently keep the wheels of their business revolving. Succinctly, they not only need to work hard, but also, work Smart.

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Quatrro’s Innovative “Asset Free Accounting” Model emerges as the new accounting standard for the Franchise Industry

February 2, 2021blogAccounting Solutions, cloud based business, financial, healthcare, hospitality, Industry, QPort, QRecs, restaurant, retail, technologyadmin

Rosemont, IL – Quatrro Business Support Services, a market leader in providing cloud based business support services across diverse industries, is poised to create a new accounting standard for the Franchise Industry across the United States by conceptualizing and successfully implementing its “Asset Free Accounting Model” for a range of clients across existing and emerging industry verticals. Buoyed by the success in Restaurant, Retail, Automotive and Not-For-Profit (NFP) industry verticals, Quatrro aims to capture a significant share of the market and has already started enhancing penetration in several emerging verticals such as Hospitality and Healthcare.

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DERIVED BENEFITS FROM THE SKILL BASED SERVICE DELIVERY MODEL

January 6, 2020blogCloud, cloud-based, cost-reduction, data entry, data processing, DELIVERY MODEL, End-to-end data processing, Finance & Accounting business, finance and accounting solutions, Next Gen SaaS++, Real time Operational metrics, Small Businesses, SMB clients, technologyadmin

Complete automation on receipt of documents from clients for data processing
Transparent exchange of information between Quatrro and the client
Auto-tracking of various stages of the document
Configurable workflows for operations team
Auto allocation of jobs to a pool of skill based resources
Real time Operational metrics of work activities performed by teams available for enhanced monitoring of work activities by supervisors.
End-to-end data processing of client inputs in an SLA of 4-12 hours, with auto confirmation emails to clients on receipt as well as processing of inputs
Time saving of 25% per store while performing data entry activities
Time saving of 20% per store by streaming the entire operational process and reducing repetitive activities & manual interventions

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PLATFORM BASED PROCESSING – THE NEXT GEN CLOUD-BASED ACCOUNTING MODEL

January 21, 2021blogACCOUNTING SOLUTION, Accounts Payables, Accounts Receivables, CLOUD BASED TECHNOLOGY, financial reports, outsourcing, Platform based Processing, Reconciliations, Small and Medium businessadmin

Over the last 10 years, the outsourcing of business processes in general and non-core functions like IT, HR, F&A, Procurement and others have evolved rapidly and come to be routinely serviced from delivery centers located in different continents. The activity that began as “lift and drop” of the processes from high cost to low cost locations is evolving to transforming the business processes through “Platform-based Processing”. This involves building processing capabilities, leveraging the software platform and making it available to customers on a “transaction pricing” model. In essence, it is a SaaS++ model wherein the Business Processes are delivered as a Service, “BPaaS”, leading to a lower Total Cost of Ownership for the end customers.

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