Opaque accounts receivable (AR) processes mask errors, cause delays and lead to devastating cash flow issues for firms. In PYMNTS’ new Working Capital Playbook, Jeff Rechtzigel, vice president and general manager for the retail division at Liquidation.com, explains how digital payments and detailed invoices can keep AR cranking.
Accurate, timely and seamless accounts receivable (AR) processes are the lifeblood of any business.
Large amounts of dollars flow between corporate accounts every day, and corporations must account for every cent. Errors and delayed payments can have massive downstream ramifications, and key processes such as payroll and vendor payments all suffer when money is not where it should be at a certain time.
Leveraging transparent AR procedures is one way to avoid these AR and accounting mishaps, but doing so is far easier said than done. One business familiar with the importance of accounting transparency is Liquidation.com, a B2B auction marketplace owned by Liquidity Services that facilitates purchases between business supply sellers and buyers.