AR Benchmarks: Cash Application

Job one for many AR departments is getting the cash in; applying the cash and clearing paid invoices from the system is an “after step” to receiving and collecting, but it is a critical step. While the percentage of payments by check is decreasing, cash application has not gotten any easier. There is still a high volume of check payments, especially in business-to-business transactions; at the same time, as payment channels increase, the complexity of cash application increases due to the…