Improving Order to Cash Process & Nullifying Revenue Leakages
Accounts receivable (AR) are an asset account on the balance sheet that represents money due to a company in the short term and it is very important for any organization to manage its Accounts receivable functions since ultimately the outcome of AR management impacting the cash-flow and working capital status of the organization.
Accounts receivable solutions from Storch helps organization in optimizing the cash-flow management, ensuring sufficient availability of working capital, identifying the revenue leakage areas, bridging gaps leading to such harmful leakages, ensuring synchronization between sales team and finance team, simplifying the complex reporting of AR functions.
Accounts Receivable process depends organization to organization. It depends upon the factors like nature of business i.e. whether company is dealing in product delivery or a service industry, demographic factors, location of the plant etc.
However, a basic/general AR function includes activities starting from Sales Quotation from Supplier and then delivering the services/product, then Invoicing, Collections, Reconciliation and then settling the accounts etc.