Chardon, Ohio, November 19, 2015- Today e2b teknologies, publishers of Anytime Collect (www.AnytimeCollect.com) accounts receivable management software, announced that a new customer has chosen Anytime Collect to streamline and automate accounts receivable for Microsoft Dynamics AX.
As a manufacturer your focus is not on accounting, it’s on producing product, managing inventories, bringing in new business, and on the other important activities that drive revenue. While accounting may not be your greatest focus, it’s extremely important to pay close attention to effectively managing accounts receivable. Why? Because companies who focus on collecting what they are owed as quickly as possible are able to increase manufacturing cash flow, which then allows them to invest in R&D, buy capital equipment, offer competitive prices, and take other important steps toward growth.
Late payment is common in the manufacturing industry, but there are ways to change that in your business. First you need to know why customers are paying you late to begin with.
Study indicates nearly 50% of profitability worries for manuafacturers can be met with automated accounts receivable.
According to the September 2014 Atradius Payment Practices Barometer, companies across industries were most concerned with maintaining adequate cash flow, falling demand for products and services, collecting oustanding receivables, and bank lending restrictions. The report dug into specific industries to reveal which of these represented the largest profitability worries in specific industries. The survey results indicate that by automating accounts receivable, manufacturers specifically can ease their concerns in the coming year.