Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA). Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors.

Without real-time access to centralized data, customer-facing teams such as sales, collections, and others struggle to collaborate efficiently. This fragmentation of data hinders their ability to work seamlessly towards common objectives. Similarly, expecting payments from customers without sending invoices on time can also have a negative impact.

How to optimize your accounts receivable process

Take the first step toward resolving your financial matters by giving us a call today. All credit comes with some degree of risk, so an important part of AR management is having a well-developed set of credit policies in place. Every executive is committed to ensuring transformational success for every customer. Explore our schedule of upcoming webinars to find inspiration, including industry experts, strategic alliance partners, and boundary-pushing customers. Whether new to BlackLine or a longtime customer, we curate events to guide you along every step of your modern accounting journey.

  • We’re dedicated to helping you achieve financial freedom and make informed financial decisions.
  • Accounts receivable management is also a critical component of customer relationship management.
  • The receivables turnover ratio is the inverse of the receivables-to-sales ratio.

Establishing effective two-way communication is vital, both internally and externally. This may seem like an obvious factor, but it is often ignored, especially when it comes to the finance team and customers. Enable easy-to-use and numerous options for stakeholders—both internal and external to interact in the way they choose to. In the world of B2B commerce, credit is the lifeblood of business operations.

Source Receivables Management

However, accounting automation helps businesses streamline these processes by minimizing or even eliminating the tedious, manual-entry steps that are involved. Companies come to BlackLine because their traditional manual accounting processes are not sustainable. We help them move to modern accounting by unifying their budgeting for warranty expense data and processes, automating repetitive work, and driving accountability through visibility. Gain global visibility and insight into accounting processes while reducing risk, increasing productivity, and ensuring accuracy. Close the gaps left in critical finance and accounting processes with minimal IT support.

What is Accounts Receivable Management? Goals, Challenges, and Best Practices

Additionally, if you believe you owe Source Receivables Management a legit debt, we’re here to help you negotiate a debt settlement agreement you can afford. Source Receivables Management might accept a pay-for-delete agreement, but it’s important to note that they are not legally required to do so. That’s true even if they verbally agree to erase the negative item upon full payment of the debt.

Ready to Repair Your Credit?

If you’ve been getting calls from the debt collection agency but aren’t sure why it’s in your best interest to check your credit report and contact them directly. Source Receivables Management or Source RM is a third-party collection agency based in North Carolina. SRM has received complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including attempting to collect debts not owed and using false or misleading language in an effort to collect a debt. If you have been contacted by SRM, make sure you understand your rights before responding. Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB).

Source Receivables Management, LLC Complaints

We empower companies of all sizes across all industries to improve the integrity of their financial reporting, achieve efficiencies and enhance real-time visibility into their operations. Consider employing automated reminders and notifications to prompt customers to pay on time. Automation software can handle this for you, freeing up time and energy for your A/R management teams to focus on more complex tasks. Use a solution that automates matching payments with corresponding invoices to mitigate disputes and facilitate accurate accounting. The advantages of accounts receivable automation extend beyond simply streamlining the process; it also enables organizations to effectively monitor invoicing, collections, and emerging patterns.

How We Make Money

Centralize, streamline, and automate end-to-end intercompany operations with global billing, payment, and automated reconciliation capabilities that provide speed and accuracy. Ignite staff efficiency and advance your business to more profitable growth. Optimize efficiency and ensure compliance in your invoice-to-cash process with automated invoice processing and a customer payment portal. Accounts receivable automation alone cannot drive significant change if existing processes are flawed–but it’s certainly a great place to start. Companies may need to redesign their AR processes to ensure optimal success. From there, they should automate every step possible to fully realize the benefits of AR transformation.