Law Firms Are Facing Low Collections

Law firms don’t have the best track record when it comes to accounts receivables. On average, law firms are waiting 76 days to collect on their invoices. A typical small law office can see their total uncollected accounts receivables equaling 40 percent of their billed charges. That’s money that the law firm has earned, but was never paid for.
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What Accountants Can Offer to Accounts Receivable Software

Every day it seems like we hear of another job that has been replaced by computers and automation. Cashiers have been replaced by self check outs and bank tellers are being replaced by online banking and ATMs. But what about accountants? With all the automated accounts receivable software out there you would think that this is an easily replaceable field. However, there are aspects about accountants that just can’t be replaced.
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Let Accounts Receivable Automation Software Make You A Collections Star

We’ve been writing quite a bit about the fears keeping people from implementing accounts receivable automation software such as the fear of putting A/R in the cloud or the loss of process control. One of the other major fears that collectors or credit managers have is that by utilizing an automation system they are in some way failing to do their jobs. This is an enormous misconception! In fact, accounts receivable automation software does just the opposite! Your going to look like an accounts receivable rock star when you start being more productive, chipping away at DSO, and improving other metrics that directly impact cash flow.

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Automated Accounts Receivable Solves Top 3 Profitability Concerns for Manufacturers

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.
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