Who Uses Accounts Receivable Management?
Any organization that extends credit to customers can benefit from the increased productivity, cost savings and improved collections delivered from Accounts Receivable Management.
All types of organizations across many different industries use Accounts Receivable Management to manage their billing cycle communications and collections activities more efficiently and proactively.
Companies most frequently use Accounts Receivable Management when:
- They are in a volume-based business with heavy call center operations
- They have accounts that are in late-stage default and debtors who are hard to locate
- They have customers with low-balance accounts that are too costly to focus on
- They need to decrease in Days Sales Outstanding
- They need to increase productivity—having live agents focus on large accounts while automating collections on smaller accounts
Accounts Receivable Management is used by organizations of all sizes and across all industries. Premiere Global also helps some of the world's largest collections agencies to automate their communications activities—often in excess of 20 thousand communication messages per day to debt holders. Premiere Global helps all organizations increase their collections while saving valuable time and money.
How do customers in different industries use Accounts Receivable Management?
- Financial Services companies – automate accounts receivable for small accounts and focus live agents on larger accounts; and send creditor communications regarding accounts to enhance customer relationships.
- Manufacturing organizations – remind customers earlier in the accounts receivable process when they have an overdue account.
- Retail organizations – automate payment reminders—both early and late stage accounts receivable—to reduce mailings and communications costs.
- Healthcare organizations – effectively remind customers when they have an overdue account
- High Tech companies – communicate faster and more efficiently with payment reminders, decreasing Days Sales Outstanding (DSO) and increasing response rates.
- Transportation, Communications and Utilities organizations – notify clients of payments due before the risk of service interruption
- Services businesses – notify clients of past due accounts before turning over to dunning or collections agencies.
- Travel & Hospitality - manage you accounts receivable activities such as collections communications and dunning notifications more efficiently.
Learn more about how organizations in your industry are using Accounts Receivable Management to manage their billing cycle communications more efficiently. click here
Contact a Premiere Global Accounts Receivable Management solutions specialist to learn how you can manage your accounts receivable process more efficiently and effectively. click here
