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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