Tag: Accounts Receivable
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Tech Platforms That Make a Credit Manager’s Life Easier
While a strong economy is good news for everyone, the path from a weak economy to a healthier one can be fraught with peril for parties in the construction industry. In fact, it has been shown that the failure rate for subcontractors is three times higher in a recovering economy than a recessed and stagnant economy. One…
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Securing Your Debt: The Mechanics Lien
This post is the fifth in a six-post series detailing the steps to take to secure payment on virtually every project – virtually every time. A recent article outlined a proven methodology, that when used correctly on every project, can secure all extensions of labor and/or materials on credit, and virtually eliminate bad debt. This relatively simple…
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You Need Outsourced Technology to Manage Receivables – Here Are Options
Technology is everywhere, both in business and in everyday life. It’s a pretty safe bet that if something can be made more efficient, or just easier, by employing technology it has either already happened, or there is someone working developing a solution. This is especially true for business practices. Business has been transformed by technology throughout…
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B2B Receivables/Benchmarking Lessons for Financial Managers
In most cases, collecting on an invoice is not a problem, as a very high percentage of invoices are paid before they age past 90 days. Nevertheless, an entire industry of workers (i.e. credit managers) and vendors (credit monitoring, insurance, etc.) are dedicated to helping companies manage those instances when collecting an invoice is a…
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Construction Financial Technology: The Answer is the Cloud
There are few aspects of today’s society that have not been optimized by technology in some way. If something needs to happen, it has either already been automated or somebody is trying to figure out how to develop that automation. For financial issues, and specifically receivables management and tracking and payment management, this technological assistance and automation…