AR Best-Practices: 5 Steps to Strategic Customer AP Relations and Lower DSO
On-demand Webinar | Free
A recent study by Ernst & Young estimates that The Top 1000 US companies could save more than 35% of the $375 billion dollars tied up in working capital through faster conversion of receivables.
While the speed of the credit-to-cash cycle heavily depends on terms dictated by the customer, a low-hanging fruit is the broken information exchange mechanism between Accounts Receivable (AR) and Accounts Payable (AP) teams which has traditionally been viewed as a transactional process.
From exchange of invoices, collaborating over payment terms and early-pay discounts, acquiring accurate remittance information and providing convenient payment options, AR KPIs are heavily impacted due to largely manual, time-consuming collaboration and communication.
Register for this upcoming webinar to learn how companies such as Dr Pepper Snapple, Yaskawa America, Inc. and Cargill Foods have strategically bridged the divide to reduce DSO by 10% and past-due AR by 75%.
Key takeaways include:
- Reducing receivables processing costs by driving electronic invoicing and payment adoption with small and medium businesses which make up 80% of customer accounts
- Faster receivables conversion by offering transparent information on early-payment discount information coupled with access to convenient payment options
- Maximizing top-line growth by virtually eliminating blocked orders and credit holds using real-time collaboration with customer AP teams
- Improving the customer experience with transparent and quick resolution of credit issues, customer claims, disputes and deductions
- Reducing AP payment processing lead times by eliminating requirement of remittance information
Chris Doxey, CAPP, CCSA, CICA, CPC
Senior Trainer & Consultant, IOFM
Chris has held senior finance and controller positions at Digital Equipment Corporation, Compaq, and Hewlett Packard where she developed and implemented standards of internal control and leading practices for all aspects of financial operations. She was also recruited to lead WorldCom (MCI) in the implementation of internal controls, policies, and corporate governance processes.
Chris is a Certified Accounts Payable Professional (CAPP), Certified Internal Controls Auditor (CICA), and a Certified Professional Controller (CPC). She also holds a Certification in Controls Self-Assessment (CCSA). Chris is a member of the Institute of Internal Auditors (IIA), the Institute for Internal Controls (The IIC), and the Institute of Management Accountants (IMA). She is also a member of the advisory board for the IIC and for the Exchange Summit.
As president of Doxey, Inc. Chris uses her expertise to provide best practices solutions to her clients in governance, risk, and compliance (GRC), and in the P2P, Record to Report (R2R), and Order to Cash (O2C) processes.
Ron consults with HighRadius’ customers on large Receivables projects and helps them transform their credit-to-cash operations. Ron has worked on many Fortune500 receivables transformation projects with companies including Bayer, Monsanto and Cargill.
Continuing Education Units available:
Receive 1 CEU toward renewing ARM, ARS, AOCM or AOCS certification from the Institute of Finance and Management! The Accounts Receivable Certification and Order-to-Cash Certification Programs are designed to establish standards for the profession and recognize Accounts Receivable and Order-to-Cash professionals who, by possessing related work experience and passing a comprehensive exam, have met stringent requirements for mastering the Accounts Receivable and Order-to-Cash bodies of knowledge.
This webinar is provided free of charge and underwritten by a sponsor. Following the webinar, you may be contacted by the sponsor with information about their products and services.
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Thank you for registering for the on-demand webinar: A/R Best-Practices: 5 Steps to Strategic Customer A/P Relations and Lower DSO. This webinar is Free, courtesy of HighRadius.
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