Efficient collection of accounts receivable can bolster your cash position and give you access to those funds quickly. This can result in more interest income earned or, if you’re borrowing, a reduction of interest expense. Recent Treasury Management technological advances give businesses the tools to reduce the time it takes to covert accounts receivable to cash.
In this episode of the First Business Bank podcast, experts Melissa Fellows and Kim Preston, Senior Vice Presidents of Treasury at First Business Bank, discuss:
- The benefits of improving your accounts receivable collection process.
- Features of remote deposit capture, lockbox, coupon scanning, virtual cards, and other options.
- New technology that allows you to invoice and collect electronically.
- The ROI of accessing your cash faster in a rising rate economy.
While we appreciate seeing clients in our lobby, we know how precious your time is. The days of standing in line at the bank are thankfully behind us. Tune in to this episode for tips to access your accounts receivable faster — improving your time-to-cash performance and, potentially, the interest you earn.