How do you optimize your accounts receivable process and reduce bad debts?
Accounts receivable (AR) are the amounts that customers owe you for the goods or services you have delivered. Managing your AR process effectively is crucial for your working capital management, as it affects your cash flow, profitability, and customer relationships. However, collecting payments from customers can be challenging, especially if they are late, dispute the invoices, or default on their obligations. How do you optimize your AR process and reduce bad debts? Here are some tips to help you: