Choosing account analysis software

Article Abstract:

Account analysis statements are regarded by corporate treasurers as invoices for bank services. Account analyses have become more important to corporate treasurers. However, these analyses are also more difficult to analyze and interpret, because of higher prices for bank services, bank charges for a greater number of services, declining interest rates, the lack of standardized operating services, and stricter definitions of available balances. A number of software packages are now available to help internal accountants analyze bank account analysis statements. These programs should be selected on the basis of their flexibility, their key functions, vendor experience, and price. This selection procedure is explained.

Banking industry, Management, Software, Reports, Information management, Cash management, Managerial accounting, Bank accounts, Controllership, Accounts payable

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Nine ways to speed your collection of European receivables

Article Abstract:

Many European companies devise creative methods for delaying payments in order to offset tight credit conditions and low profitability. Nine strategies to accelerate debtor payments and to cut days' sales outstanding are suggested. Individual characteristics of each country should be considered in order to effectively apply these strategies. Cash management techniques include setting appropriate credit terms, negotiating value dating with banks, taking advantage of special services offered by banks, establishing concentration accounts, offering discounts for early payments and charging penalties for late payments, making credit terms clear, and encouraging customers to use the best payment instruments.

International aspects, Collection (Accounting)

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Choosing a Commercial Collection Agency

Article Abstract:

Selecting a reputable collection agency is emphasized. Several criteria are indicated to determine a quality agency; for example, being well-established, having a reasonable fee range and providing accurate reports of all progress. Misuse of collected funds and failure to complete services paid for up front are specific problems to watch out for. Procedures for evaluating an agency include checking its past service record and talking with present customers.

Evaluation, Collection agencies

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