Outsourcing Accounts Receivable Management
If your company sells a product or service to another business, institution or government agency, chances are you send them an invoice and then wait for payment.
“Accounts Receivable Management” is the process a business uses to ensure they get paid for the work they have done. That process typically has the following steps:
1) Create the invoice
2) Attach all required supporting documentation to the invoice
3) Deliver invoice to customer
4) Verify that invoice and support documentation has been received and is accepted for payment
5) Monitor the remittance cycle
6) Follow up if payment does not arrive in a timely manner
Like many other business processes, Accounts Receivable Management can be outsourced. As a factoring company, Riviera Finance can take on that responsibility for you. Outsourcing A/R Management empowers you to direct your energy and attention (and the energy and attention of your staff) to
a) Growing your customer base; and
b) Delivering more product and/or service to existing customers.
Bottom line: We can stabilize your cash flow while freeing you to do more business.
Mr. Kocharhook is a Business Development Manager for Riviera Finance – a factoring company headquartered in Redondo Beach, CA, that has been providing professional “best practices” factoring services since 1969. He operates in San Jose, CA, and can be reached for additional information or consultation at dkocharhook@rivierafinance.com or at 800-336-2223 .
