The Importance of Flexibility in Credit Management

Flexible accounts receivable management solutions

Accounts receivable – it has ‘high priority’ written all over it with a black permanent marker.

Arguably the most demanding of jobs, the accounts receivable process encompasses pressure, productivity and purpose to ensure profit. It’s often a structured process that results in a structured, prepared and expected outcome; to increase incoming capital.

But, it’s time to accept that the accounts receivable process is not all black and white. With a few shades of yellow, and a really bright stripe of pink, the accounts receivable process needs to be approached with flexibility and adaptability.

There’s no one-size-fits all. There’s no good, better, best. It’s all about using the best resources for each individual business, and finding the freedom to make the process as simple as it can possibly be.

A flexible approach to business

Each business is different. Their systems and circumstances are different. This is why the accounts receivable process needs to be adjusted, enhanced and altered to compensate for even the most diverse business situations.

The ability to choose when to send invoices, when to halt invoices and overdue notices, and when to follow up an overdue account is just one of many ways that the accounts receivable process can be controlled, while positively improving cash flow.

Adopting a flexible attitude to the accounts receivable process allows for the freedom to choose how you approach individual clients and businesses, ensuring that the permanent black marker on your invoices reads ‘paid’, and not ‘overdue’.

Connect with IODM – Rein in Receivables to see how you can utilise flexibility to increase the success of your accounts receivable processes.

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