Process Improvement

IOFM provides best practices for managing how you get greater performance from your AR. The Institute starts with benchmarking your current performance against your peers to identify where there is opportunity for improvement. And then it requires analyzing each step of the process from maintaining the customer master file, to order processing, to billing, to cash application -- and all the while keeping an eye out for fraud and abuse.

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Four Practical Steps to Measuring AR Performance

Featured Content

It’s hard to convert performance goals into a business plan without knowing how much improvement is realistic. And measuring your performance and then benchmarking those results isn't easy or inexpensive. Learn the four steps to consider before measuring.

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Benchmarking

Using KPIs to Bolster Collections

Connecting the 7 Components of the Order-to-Cash Cycle with Reporting & Analytics

AR Best-Practices: 5 Steps to Strategic Customer AP Relations and Lower DSO

Billing

Q&A: What Are Some Best Practices for Handling Invoice Disputes?

Global E-invoicing Mandates Update—A Sea Change Starting in 2016

Cash Application

Fast and Inexpensive Transactions: Fixing the Broken Promise of Electronic Payments with Intelligent Cash Application

Change the Rules of Cash Application

Adding ACH Payments Helps KHS Bicycles Speed Payments and Boosts Customer Satisfaction

Customer Master File

Comprehensive CMF Management Procedures: Keep All I’s Dotted and T’s Crossed

Case Study: Customer Master File Setup and Maintenance at Global Experience Specialists

New Customer Welcome Letter

Fraud & Abuse

Control the Fraud out of Accounts Receivable

Effective Internal Controls Ensure AR Security at Weight Watchers International, Inc.

Avoid Negative Company Culture, Avoid Fraud

Order Processing

ACH vs Credit Cards: A 4-Point Framework to Evaluate Which One is Right for Your Business

Sales Order Form

Best Practices for Customer Purchase Orders

Policies

Global Process Ownership in O2C Process Transformation

AR Best Practice: A Written Collections Policy

Strategies to Avoid Late Payments and Keep Your Cash Flowing

Period Close

Year End Checklist

Month End Close Calendar

Month End Checklist Template

Credit

Security Interest Agreement

Promissory Note Agreement

Personal Guarantee Agreement

Disaster Recovery

Vendor/Customer Contact Log

Status Report Form

Telecom bills approval process?

What you need to know about Corporate Travel in 2019

Tech brands are transforming the business travel and expense landscape—and business traveler expectations. This will have big

Reactive to Proactive: How to Improve Efficiency and Oversight of Your P2P Process

For most organizations, the procure-to-pay process (P2P) is one of the most complex financial processes. On top of involving high volumes of cash

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