PERSONALIZED SERVICE, BENEFICIAL RESULTS
We have built an excellent reputation taking care of a wide variety of Receivables needs for our valued clients. Whether you need assistance with setting up an A/R department or something more complex, check out our list of specialties and get in touch to find out why so many businesses and individuals rely on us to manage their Receivables.
The extension of credit terms to your customers is integral to your company's success. But it is also a business risk that requires diligent and expert attention. Your credit manager must make fast and nimble credit decisions based on the most accurate information available, while supporting sales targets and profitability.
At Optimum, we understand that assessing credit worthiness may be challenging, especially in these economic times. Our team members possess a thorough understanding of the Financial Analysis and Credit Reporting disciplines. We understand the importance of obtaining and gathering the right information to ensure that your credit decisions are educated ones.
Collections are a necessary component of a healthy receivables. Often receivables are neglected or staff is not adequately trained on collection techniques and strategies, which can bring your cash flow to a halt. An uncollected receivable has many repercussions including a lack of confidence in your funding sources, as well as concern from your Executive management, Investors or Board members.
It is essential that your Credit department understand the collection lifecycle and establish and implement collection policies and procedures that include regular review of the Receivables and the appropriate strategies to address past due accounts.
Optimum Receivables is committed to adhering to the highest ethical standards and maintaining a professional representation of your organization. We can recommend and implement successful and proven best practices to reduce and maintain a low DSO while maximizing profits and cash flow without impairing sales.
Speed is the key to collecting Receivables. Having nimble processes is an integral part of a healthy Receivable. But what if your A/R team is unskilled in handling cash application, managing deductions, issuing credit/debit memos and compiling customer account reconciliations? Do your customers take unearned discounts? Is your bank incorrectly processing your lockbox deposits? Are your customers requesting more payment options?
If any of these represent a challenge for your organization, we can help. Our experience in general accounting, GAAP and proven Receivables Management best practices will streamline your processes and produce the results you expect.
Is your Billing system problematic, creating inaccurate invoices that are presented to your customers? Is your Billing team skilled and trained in spotting invoicing problems and handling billing disputes? Are you struggling each month with revenue recognition issues? Are you confident that your billing department is producing invoices that are compliant with your customer's requirements?
By applying our knowledge of best practices, concepts and procedures within the Billing function, our team has the experience and ability to identify and resolve invoicing irregularities prior to invoice production, which is essential in producing customer invoices with data integrity. Our proven best practices will streamline your revenue cycle and simplify your processes to ensure your customers are billed promptly and accurately.