Process improvement solutions may be closer than you thought.(selected topic)(enterprise resource planning)

Publication: Business Credit

Publication Date: 01-OCT-04

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COPYRIGHT 2004 National Association of Credit Management

Today's credit executives continue to face the challenge of increasing productivity with fewer resources--namely personnel and money.

One of more labor-intensive functions within most firms is the "billing to cash" application process. Or, as some call it, "cradle to grave". If you are still collecting and applying cash the old-fashioned way, you may be missing an opportunity to reduce processing costs and speed up cash flow simultaneously.

Although we have heard about the "checkless society" for several years, the majority of businesses are still a long way from checkless transactions. While the technology--hardware and software--to handle B2B (business-to-business) transactions has existed for some time, commercial firms have been slow to climb onto the bandwagon.

Many credit executives may hesitate to explore available technology due to a lack of experience and/or knowledge of how it can be used to make their lives easier and improve their companies' cash position. Others may still believe in the old adage, "If it isn't broke, don't...

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