Recent Posts by Nicole Dwyer

 
Nicole Dwyer is Chief Product Officer for YayPay, bringing more than 10 years’ experience in accounts payable and receivable technology to ensure YayPay continues to meet the needs of its customers. Having spent her entire career in commercial payments, Nicole understands high- and low-value payment systems, the complexities of how businesses pay and get paid, and has worked with distributed teams spanning the globe. She is a graduate of Worcester Polytechnic Institute. Residing in Pennsylvania with her husband, daughter, and son, they spend their time outdoors and creating new adventures.
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Improving AR Management to Improve DSO

Last week, we learned that you can reduce the delta between your Standard DSO and Best Possible DSO by improving your business’ AR policies and overall AR management. This week, we will dive into the strategies and the reasoning behind them.

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What is Best Possible DSO?

While Standard DSO measures current and overdue invoices, Best Possible Days Sales Outstanding (or Best DSO) measures only current invoices. Tracking the delta between Best DSO and Standard DSO will ensure that you are optimizing your business’ account receivable (AR) management practices and help identify opportunities to improve cash flow. Quarter-over-quarter or year-over-year reductions in this delta is a key performance indicator (KPI) of AR improvement - and the financial health of your company.  

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The Differences in Cash Forecast if You’re A Small, Medium, or Enterprise Business

Cash flow forecasts are critical no matter the size of your business. Knowing how much money comes in and goes out with some predictability allows you to plan effectively. You can be a profitable company and still run out of cash every month. That's why cash forecasts are essential.

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What is an Average Receivables Collection Period?

Sales is the #1 financial statement that gets the most attention, closely followed by net income. Even if the figures on paper are impressive, they don’t necessarily represent cash on hand if you operate on an accrual basis. Instead, these numbers often reflect potential revenue and net income from cash flow that hasn’t occurred—assuming you'll be paid.

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The Benefits of Investing in an Automated Accounts Receivable Solution

Your accounting department is arguably the most important area of your operation. If you struggle to collect payments from customers, how will you be able to keep your doors open for the foreseeable future?

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How a Company Can Still Be Profitable with a Negative Cash Flow

 Smart business owners understand how important cash flow is to the success of their companies. Without cash on hand, it’s difficult to cover operating expenses such as salaries, rent, utilities, and supplies. When money’s tight, pursuing new opportunities is out of the question.

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Getting Insight Out of Your AR Aging Report - Without a Crystal Ball

Every accounting program can create an accounts receivable (AR) aging report — unless you’re keeping your books like Bob Cratchit in a dusty Dickensian ledger. Depending on your app or software, you can change the parameters of the report, the aging buckets, and how granular the details are. It’s easy to get bogged down in creating the perfect report, but what matters more is how you use it.

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Using AR Analytics to Measure Department Effectiveness

AR managers have a myriad of responsibilities. The company’s cash flow, financial forecasts, budgets, and debt collection efforts are all on your team’s task list. While much of your tracking and reporting focus is on other departments, it’s also critical to measure your internal team performance. AR analytics can be a  tool used to assess your team’s effectiveness and inform personnel decisions.

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