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Streamlining AR and AP Management Systems

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
One of the most challenging aspects of managing Accounts Receivable and Accounts Payable is ensuring that everything runs smoothly and efficiently. A well-organized approval system can expedite processes, thereby diminishing the likelihood of delays and other associated problems.

This article looks at ways to streamline AR and AP management, and areas addressed include centralizing invoice approval, operations documentation, negative approval, early invoicing and outsourcing collections. Also reviewed are benefits of process streamlining that include improved continuity of cash flow, reduced resources invested in receivables, increased transaction handling speed and improved resource productivity.

Los Angeles CEOs and CFOs can significantly benefit from engaging with an outsourced CFO services provider both to review current AR and AP management procedures and implement best-practice processes that will result in increased productivity and improved financial control.

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