Professional receivables management is a challenge for many, often small and medium-sized, companies. Especially with a rapid increase in e-commerce, as seen during the coronavirus crisis, a balance must be struck between customer care and dunning - but the resources and expertise are often lacking. We have five reasons why you should 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 needs to be learned. If you want to do it yourself in your company, it takes time and hard work. What automatically suffers in the process is your actual core business.
If you outsource your bookkeeping, you don't have to worry about unpaid invoices. Others will keep an eye on it for you.
2. more liquidity
One of the biggest advantages of debtor management is that you automatically gain more financial freedom. In addition to comprehensive default protection against bad debts, there is also the option of simply having receivables pre-financed within a short period of time.
This means that your company is no longer dependent on your customers' payment behavior and you can plan your finances reliably and as required.
3. less risk for your company
The service provider that offers accounts receivable management for your company assumes the risk of the orders to be executed and bears the financial consequences if it violates legal regulations or fails to meet deadlines.
As a rule, the employees are appropriately trained and have a wealth of experience. This reduces the risk and increases safety.
4. lower personnel costs
Do you employ someone to handle receivables management for your company? Then you will incur personnel costs, material costs and costs and time for monitoring the work. All activities relating to receivables are handed over to an external service provider.
5. you still retain control
More purchases mean more invoices and therefore automatically an increase in potential invoices due. With a rapid increase, it's easy to lose track. A significant increase in e-commerce was particularly noticeable during the pandemic.
Even if you or your employees are no longer involved in receivables management yourself, this does not mean that you no longer have control over everything. This means that you naturally still have a say when it comes to opening debt 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, your marketplaces or offline sales channels.
nexnet connects debtor 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 all times.
What you always keep an eye on yourself: The completeness, due date and correctness of all transactions. The solution records all movements directly for accounting purposes so that you can then conveniently receive 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? Here you can find out what a solution tailored to your needs looks like.
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