Accounts receivable may not be the most exciting topic, but it’s become a significant part of digital transformation for accounting and finance teams. Shifting to operating virtually has accelerated the application of technology to F&A departments—which is long overdue.
In this article, Robert Kugel, SVP and research director for Ventana Research dives into the Office of Finance benchmark research conducted before the pandemic began. This revealed that one of the keys to achieving better performance is competence in the use of information technology.
Here are just a few of his insights:
Dealing with a radically different working environment has finance department executives focused on using technology with a newly felt urgency
Managing receivables well is necessary to handle working capital efficiently and to minimize credit losses from customers
The pandemic has finally raised awareness of the value of digitally transforming accounts receivable management