Paragon Financial Group is funding during the COVID-19 crisis.

Accounts Receivable Management Solutions

Have you ever heard, “You can master your strength and outsource your weaknesses?” Being an entrepreneur, you know that efficiency and cash flow are vital to the success of any business. Why exhaust yourself with a critical aspect of your business that you may not excel? Managing your accounts receivable is often best outsourced to the experts.

Accounts Receivable (A/R) Management is critical to a firm’s growth and survival. Through the A/R management process, you determine the most favorable credit policy for each significant customer. One of the essential objectives of Accounts Receivable Management is to find out if the benefits of extending credit are more than the cost of maintaining investment in accounts receivables. You can get the cash flow predictability if you manage your accounts receivable adequately. You can optimize your A/R management processes by following six main aspects.

Accounts Receivable Management Solutions

Solutions for Managing your Accounts Receivable (A/R)

An Effective Accounts Receivable Management Program Should Include:

  1. Know your Metrics. Whenever you’re taking credit risk on a customer, knowing how much risk your company can take on and measure that risk becomes critical. All your actions originate from measuring that risk and give you a thoughtful, holistic A/R policy.
  2. A/R financing options should be organized and goal-oriented. There should be clarity on what the A/R would accomplish for the business.
  3. Effective communication is vital. The timing, tone, and content of your calls, reminder emails, templates, and follow-ups significantly impact the response rates you get out of your interactions.
  4. Tracking A/R performance would help you manage the risk involved with credit sales. Regularly monitoring your metrics allows you to see the trends in your A/R real-time, and catch the sudden changes.
  5. Quick Action and Persistent efforts are the keys to success. Without damaging customer relationships, take timely actions, and persistently follow up professionally.
  6. Proper A/R Management will improve your eligibility for the better and cheaper financing option. You would be aware of the funding options available. Having proper A/R management in place is like building up your credit profile.

All of the above aspects can be taken care of by outsourcing the A/R management process. Many of your competitors are already taking the benefit of outsourcing these services. They can instead focus on sales and client retention.

Qualify Now! Get fast funding today!

Apply Securely, call 888-400-5931 ext 1 or email us.

Factoring companies like Paragon Financial offer Accounts Receivable Management Solutions with 27 years of being in business. It is about not only working capital, credit protection, and collection answers. We provide comprehensive solutions like:

  • Evaluation of the creditworthiness of prospects and customers before granting or extending credit protection.
  • You save money on overhead costs by not needing credit, accounts receivable or billing personnel
  • Relieve yourself of having computer backups, or the security of data in place related to Accounts Receivable.
  • Save your valuable time, which otherwise is consumed in printing and mailing statements to your customers
  • Enhance and Improve collection practices and monitoring of receivables
  • Allows you to have centralized processing of payments with lockbox services
  • Eliminates the need to send employees to the bank to make deposits

As previously stated, there are multiple services that factors offer under A/R Management Solutions. They include:

Receivables Financing:

If you work with creditworthy customers, factors can advance you up to 90% on your current outstanding invoices. Whether you are a startup or an existing business, factors understand that running a business productively without available funds is not viable. Our financing solutions plan provides you with capital swiftly based on the dues outstanding from your customers.

Credit Protection:

You probably took a bad A/R hit or two during the great recession. Factors offer full credit protection against your clients filing bankruptcy or their insolvency. Read here for detailed information about our non-recourse financing.

Billing Services:

Optionally, either you or the factoring company can generate and send out your invoices and statements. Along with the paperwork, factors also make friends, non-intrusive inbound and outbound emails, and calls to achieve collections objective. Allow us to manage any paperwork related to accounts receivable, for you. Factors are experts at the job, so they take care of the smallest of details.  You would always have access to a professional and detailed activity on your receivable accounts.

Lockbox Collection:

Through Lockbox collection, billing clients can have customer payments mailed to a special PO Box instead of their business address.

Payment Processing:

Factoring companies help you in processing your payments by using our technology in Remote Deposit Capture.

A/R Monitoring & Reporting

You would have assistance monitoring the activity of your customers concerning the open invoices outstanding. There are detailed reports online 24-hours a day. For example, complete or summarized aging and delinquency reports within 30, 60, or 90 days.

With our accounts receivable management solution, businesses can improve collection rates to boost cash flow and free up working capital. In turn, this will enhance overall productivity and service. Clients DSO (Days Sales Outstanding) typically drop with our services with an increase in your customer’s satisfaction. Factors offer end-to-end receivables collection and recovery management services that generate additional profits and build greater organizational efficiencies.

Paragon Financial and its Clients

We service clients in Small/Medium Business, Communications, Healthcare, Retail, Utilities, Financial Services, Government, Education, and Commercial.  Any business that extends credit or expects payment in return for providing goods or services qualifies as a possible client. Enjoy the advantage of choosing us for all day to day process related to A/R management. You will surely find the cost worth it when you start focusing on innovative ideas to help grow your business.

Focus on your core business by outsourcing Working Capital Financing, A/R Management & Credit Protection. Take advantage of our 27 years of experience funding Accounts Receivables. You will certainly not miss out on more prominent and more significant opportunities.

With Receivables Financing Plus, you can continue funding your payroll, paying your suppliers, and adding to your inventory. Also, you’ll have immediate cash to invest in growth-oriented sales and marketing activities.

Does your company qualify?

Apply Securely, call 888-400-5931 ext 1 or email us.

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