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What Does Outsourcing Accounts Receivable Management Really Mean?

Running a business comes with a fair number of challenges, especially for those in the housewares industry. From keeping up with trends and consumer buying preferences to catering to lifestyle differences between generations, housewares suppliers and manufacturers face a variety of obstacles that can impact financial performance. And at CIT, we’ve seen firsthand how important having adequate cash flow can be for a business to operate and know what outsourcing your accounts receivable management can really mean for your business.

  • It means typically knowing the credit worthiness of a customer as soon as an order is placed, and enjoying reduced stress as a result of not having to absorb a credit loss if the customer has the financial inability to pay.
  • It means having a trusted firm whose extensive relationships in the industry enable the firm to obtain payment on receivables where most others fail.
  • It means the possibility of decreasing overhead and improving efficiency, and it may mean regular access to working capital for everyday business expenses.

Look for specific expertise in accounts receivable management that focuses on helping your business manage cash flow and provides quick access to working capital. And focus on:

  1. Professional approach to credit and collections – We help clients manage their cash flow and smooth out the customer payment fluctuations.
  2. Team of seasoned credit and collections professionals – Your service team includes dedicated professionals who are focused on developing and enhancing customer relationships using technology and best practices to provide a consistent approach to credit extension, collections and administration.
  3. Deep knowledge of customers – We have access to pay histories for thousands of retailers and wholesalers nationwide.

And, if financing is a need, a flexible approach to financing will be needed to supplement the AR management.

At the end of the day, the goal is ensuring your company is spending the time focusing on what drives business.

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