Accounts receivables management
Cash is the life blood of any business and an efficient collection process with robust policy will help boost the cash flows.One of the biggest challenges firms face is not getting the payments from their customers back on time.
Sharp helps clients analyse their collection processes and policies and helps businesses with best in class process implementation.
Accounts receivable is beyond the collector’s efficiency and terms offered, the process assessment needs to be done at the very first stage of invoicing/billing till the end of the cycle resulting in cash collection.
To ensure the cash can be freed up on time, a robust account receivable management process needs to be deployed and assessed to fill in the gaps mitigating the credit risk by avoiding overdue debts.
At Sharp we can help digitalize the process by identification of right tools and software for your firm to maintain the customer data and collection process with a streamlined invoicing process.
Account payables management
Outflow of cash is the most vulnerable pillar of working capital.Like no two businesses are the same, neither the payment process can be.
Clear visibility of hidden inefficiencies gives businesses an edge in formulating growth strategy, thereby helping them to control, comply, reduce costs and maintain relationships with suppliers.
Account Payable improvement process can be broken down into multiple smaller steps duplicate invoices, lower payment and contractual term agreement, inefficient communications between departments impacting timeliness of payment.
Sharp can help you identify the gaps in your supplier master data with respect terms agreed and actually used in invoices with efficiently renegotiating payment terms along with discounts by assessing the process and policies currently in place.
Effective Accounts Payable management will help optimise future cash out flows.
Supply chain management
- Plan
- Source
- Make
- Deliver
