BASIC thinking: Professional receivables management is a challenge for many, often small and medium-sized companies. Particularly with a rapid increase in e-commerce, as seen during the Corona crisis, a middle ground must be found between customer care and dunning – but often the resources and know-how are lacking. We’ve got five reasons for you to outsource your accounts receivable management.
1. concentration on the core business
Accounts receivable management is often also referred to as risk or receivables management. And receivables management has to be learned. If you want to take it on yourself in your business, time and diligence is required. What automatically suffers in the process is your actual core business.
If you outsource your accounting, you don’t have to worry about unpaid invoices. Others will keep an eye on that for you.
2. more liquidity
One of the biggest benefits of accounts receivable management is that you automatically get more financial freedom. In addition to comprehensive default protection against bad debts, we also offer simple prefinancing of receivables within a short period of time.
This means your business is no longer dependent on your customers’ payment habits, and you can reliably plan your finances as needed.
3. less risk for your company
The service provider offering accounts receivable management for your company assumes the risk of the orders to be executed and bears the financial consequences if it violates legislation or fails to meet deadlines.
As a rule, the employees are appropriately trained and have a wealth of experience. This reduces risk and increases safety.
4. less personnel costs
Do you employ a person to handle accounts receivable management for your company? Then you have labor costs, material costs, and costs and time to supervise the work. All activities related to receivables are transferred to an external service provider.
5. you still keep control
More purchases mean more invoices and therefore an automatic increase in potential invoices due. It’s easy to lose track of what’s going on when you’re climbing rapidly. A significant increase in e-commerce was particularly evident during the pandemic.
Even if you or your employees are no longer handling receivables management yourself, it doesn’t mean you’re no longer in control of everything. This means that you still have a say, of course, when it comes to opening collection proceedings, for example.
nexnet is the right partner for your accounts receivable management
With nexnet’s accounts receivable management, you get an industry-independent solution that monitors all cash movements and reconciles them with the data from your online store, from your marketplaces or even from offline sales channels.
nexnet connects accounts receivable management in Business Process Outsourcing (BPO) between you, various payment service providers and your bank. This ensures that you are informed about all money movements at any time.
What you yourself always have in view: The completeness, maturity and correctness of all transactions. The solution records all movements directly in the accounts so that you can then conveniently obtain a certifiable monthly statement.
In addition, the accounts receivable management solution supports common general ledger solutions such as SAP or DATEV.
Would you like to know more about nexnet’s accounts receivable management? Find out what a solution tailored for you looks like.
