Most companies in the midmarket have discovered the importance of business software such as ERP and CRM and its role in gaining operational efficiencies, reducing costs, and increasing competitive advantage; but a recent study revealed that many are still behind the curve when it comes to utilizing technology to quickly and effectively manage accounts receivable. In our Q1 2014 survey, we investigated the strategies and techniques being used for A/R management in B2Bs in the midmarket. While we had an inkling of how the survey results would turn out, even we were surprised at how many companies are shooting themselves in the foot when it comes to managing one of their most important assets; their outstanding invoices.
The study shows that an alarmingly high percentage of SMBs in the B2B sector are using the wrong tools and tactics for collecting invoices; findings that do not bode well for midmarket B2Bs trying to grow their business and profits. This survey made it quite clear that most companies in this sector truly are working harder, not smarter when it comes to accounts receivable management– and they’re paying for it. By trying to use other systems such as CRM, Excel, custom software, or ERP for accounts receivable management, companies are writing of thousands in bad-debt every year and incurring additional costs associated with the cost of credit.
The report, available below, outlines the parameters of our survey, analyzes the results, the pros and cons of different A/R management techniques, provides an in-depth explanation of our findings, and what they mean for companies throughout the midmarket. Click here to download the report and survey results.
Where do you stand? We will continue to publish updates to this report as more data becomes available. Please click here to be a part of our ongoing survey!
e2b teknologies is a Microsoft Managed Partner providing cloud-based business software applications and business services to progressive businesses worldwide including ERP/CRM consulting and development, accounts receivable management software, SCM software, B2B e-commerce software, and other business software applications
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