Accounts Receivable Management
Accounts Receivable Management is the process of coordinating and streamlining the collection of outstanding debts owed to a business. It involves monitoring and tracking customer payments, following up on overdue accounts, and implementing procedures to reduce the risk of non-payment. Effective accounts receivable management requires a specialized skill set that includes communication, organization, attention to detail, and an understanding of financial systems and principles. A well-managed accounts receivable process can help businesses maintain healthy cash flow and reduce the risk of default or bad debt.
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