Bringing Accounts Receivable into the 21st Century

5 Things Companies Should Be Doing

About TermSync

• Cloud-based communication platform supports over 100,000 businesses

• TermSync works with existing workflows, can be up and running in about a week, and receives rave reviews from our clients and their customers.

Today’s Focus

• B2B transactions– Specifically companies selling to SMBs

• 5 innovation tips for your A/R process• Q&A

A/R and Customer Relations• A/R has a pivotal role in the post-sale

process – Can prevent future sales

• Traditional A/R focus– How fast did we get paid?– How much did we write off?

• It is possible to get paid faster AND improve customer relations

Tip 1: Embrace Technology• It’s 2013, stop managing A/R

with the same tools used 30 years ago– A/R is a huge asset and

supposedly managed by the “process” department/person

– Learn from other departments in your company

• Track every interaction– Let your staff know– Inform your customers

• It’s more than just logging notes

• What value do your current reminders provide customers?– Paper account statements– Un-actionable emails– Contribute to clutter and chaos

• Think about things from the customer’s perspective

Tip 2 : Update Your Payment Reminders

• Interactive email• Payer ratings• Bundled• Reporting &

tracking tools• Appreciated by

customers

Bundled Payment Reminders

Tip 3 : Analyze Aged Accounts

• Categorize everything over 60 days or over 90 days– Identify common lateness reasons– Improve processes based on results

Tip 4 : Work With Customers

• Offer payment plans before sending to collections– Use technology to

protect you– Customers will be

more loyal– Not a fit for every

situation

Tip 5: Go Beyond DSO• A/R is more than

DSO and write-offs– Customer response

time– Customer

satisfaction– Invoice accuracy– Staff accountability

Conclusions• Give A/R the attention it deserves

– Use technology just like you do in every other department

• A/R is about more than how fast you get paid– Track every interaction– Set goals and pride yourself on great

customer service

• To achieve real results, customers must get value

Want to learn more?

To receive a demo of the TermSync solution, contact us at:

– 608-316-8380– sales@termsync.com