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Unlock your receivable data and optimize cash flow.(selected topic)
Every day, we as credit professionals face the ongoing challenge of exceeding corporate expectations in terms of managing and controlling critical accounts receivable business information. Improving working capital, reducing DSO, optimizing internal efficiency while maintaining superior customer satisfaction levels is a goal we all aspire to in today's challenging business environment. We all know the impact that these initiatives have on the financial success of our individual organizations.
As a credit professional, achievement will be measured by innovation, creativity and the ability to find and implement alternative policies, procedures and systems. This strategic business solution may focus on internal as well as external strategies.
In most organizations, the accounts receivable base is the largest tangible asset, yet the tools provided are typically the weakest link. Analyzing trends, collecting money, and resolving disputes without the proper mechanisms can lead to a significant deterioration in profit margins and an unnecessarily inflated DSO. Here at Johnson and Johnson, we strive to achieve success using technology as an aid, in order to maximize efficiencies and maintain our corporate goals and objectives. One of the ways that we do this is to attempt to equip ourselves with the best possible business analysis credit and accounts receivable software tool that is available. It is imperative that we leave no stone unturned in providing our staff with flexible resources that will enhance our daily processing efficiencies in terms of workflow task orientation and management analysis capability.
In the short term, our main objective in working with a software partner was to maintain our current A/R system, but provide an interface to a business tool, which would allow us to meet our priorities and provide a roadmap to success: "a one-stop solution". The core priorities we established were:
* Executive Dashboard with graphical drilldown
* Provide functionality for all A/R related functions:
--Credit
- Accounts-receivable financing helps some small businesses grow.
- Newspaper article from: The Orange County Register (Santa Ana, Calif.) (via Knight-Ridder/Tribune News Service) August 9, 2005 700+ words
...you do? Plenty, if you have accounts receivable. If you're in business, chances...heard of factoring _ selling your accounts receivable _ but probably haven't heard of accounts-receivable financing _ getting a loan secured...
- Measuring accounts receivable performance: a comprehensive method.
- Magazine article from: Healthcare Financial Management Newton, Robert L. May 1, 1993 700+ words
...Nonperforming assets, such as accounts receivable, are frequently cited...traditional measure of accounts receivable--days revenue outstanding...the real cost of their accounts receivable. The author discusses...
- Selling accounts receivable to fund working capital. (hospitals)
- Magazine article from: Healthcare Financial Management Kincaid, Timothu J. May 1, 1993 700+ words
The sale of accounts receivable by hospitals and other healthcare...financing options. Use of accounts receivable to fund working capital When...of most hospitals are their accounts receivable and their property, plant...
- Achieving excellence in the management of accounts receivable. (Sisters of...
- Magazine article from: Healthcare Financial Management Ladewig, Tommy L. Hecht, Bill A. September 1, 1993 700+ words
...practices have made the task of accounts receivable management a particularly demanding...numerous strategies to reduce its accounts receivable with only marginal levels of success...both the positive and the negative accounts receivable management experiences of each department...
- Avoiding potential problems when selling accounts receivable. (accounts...
- Magazine article from: Healthcare Financial Management Ayers, Donald H. Kincaid, Timothy J. May 1, 1996 700+ words
...PATIENT ACCOUNTS MANAGEMENT Accounts receivable financing is a potential...from participation in an accounts receivable financing program. For...agreement under which the accounts receivable were sold, thus necessitating...
- No-Fear Factor: For professional clients who fear liability, an accounts...
- Magazine article from: Financial Planning DeFrancesco, Roccy November 1, 2003 700+ words
...businesses have been extending credit to their customers, accounts receivable have been a fact of life. And accounts receivable factoring has been around nearly as long as accounts receivable themselves, usually to improve cash flow. Increasingly...
- Reporting accounts receivable to management.
- Magazine article from: Business Credit Byl, Calvin D. October 1, 1994 700+ words
...the usually sizable investment in accounts receivable has on the cash flow and profitability...determine what criteria for reporting on accounts receivable portfolios are requested by management...for reporting the status of your accounts receivable to management?" Their responses...
- Back to basics: collecting accounts receivable. (column)
- Magazine article from: Healthcare Financial Management Le Moine, Davis Hartley December 1, 1990 700+ words
...to basics: Collecting accounts receivable As a corporate staff representative...absolutely essential to accounts receivable management. For some hospitals...Service data, days in accounts receivable increased from 69.9 days...
Source: HighBeam Research, Unlock your receivable data and optimize cash flow.(selected topic)