Don’t Fear the Candid Photo: Taking a Snapshot of Accounts Receivables

Roughly a decade ago was when Facebook allowed the general public to create accounts. It’s an understatement to say that the user interface looked a lot different then, when status updates had to be made in the third person, teenagers told each other what they really think via the now-defunct Honesty Box, and users could set their Facebook to something called “English (Pirate).” Oh, that one’s still around.

And by 2006, digital cameras had more or less replaced film cameras. Facebook coupled with the digital camera made it easy to push candid photos out on to a wide audience. But as it turns out, few people look flattering while eating chips in sour cream dip, for example, or from a below-the-chin angle.

In the late-aughts, we realized that we really don’t look flattering doing a lot of things.

But the more unflattering the photo, the bigger the impetus we have to look better (or develop faster reflexes to grab the unwelcome camera).

Take a Candid Shot of Your Accounts Receivables

The former – that is, motivation – and not the latter is how you want to be thinking when you’re looking at your accounts receivable data. Think of it as a picture of your business’s financial health.

So how do you assess your A/R data? And once you do, how can you improve?

In a new white paper titled “Every Picture Tells a Story. What Story Does Your Accounts Receivable Data Tell You?,” Spend Matters founder Jason Busch argues that visibility into A/R data provides a snapshot into credit and risk management, collections management and many more areas. Looking at your days sales outstanding (DSO) is but the start. This free, downloadable white paper also tackles the following issues:

  • Determining what is a good DSO
  • Setting a realistic goal of improvement
  • The essential role of electronic distribution systems
  • Additional KPIs that electronic distribution can improve
  • And more…

Make 2017 the year you take a candid picture of A/R. Download the free white paper today!

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