If you told your CFO that receivables processing is eating away 20% of their gross-margin, would they sit up and pay attention?
Unfortunately, while more than 41% of finance transformation programs are focused on correcting margin erosion by improving customer profitability, most C-suites are not focused on the role which you and the rest of the A/R team could play in this.
But BrightStar is an exception.
The credit and finance team at BrightStar led from the forefront to cut hidden costs across payment acceptance and processing, billing, collections and bad-debt write-offs.
In the webinar, experts from NACHA and BrightStar explain how to review your credit-to-cash processes as a cost-center and create a strategic plan of action to optimize costs with best practices in payments, receivables processing and automation.
Key takeaways include:
- Control payment acceptance costs when dealing with a complex payment mix
- Improve working capital and lower borrowing costs by streamlining collections
- Cut paper-costs by moving from archaic, paper-based invoicing to digital methods
- Proactively reduce deduction write-offs with root-cause analysis for faster resolution, thereby improving customer service
- Control bad-debt by ensuring internal compliance with credit management policies
- Tim Walker, Financial Project Systems Manager, BrightStar Corporation
- Robert Unger, AAP – Senior Director – Corporate Relations and Product Management, NACHA
- Matt Skudera, Vice President - Research and Education, CRF
- Keith Smith, Enterprise Solutions Specialist, HighRadius