Accounts receivable operations
A New Era for B2B Electronic Payments —The Future of Native Electronic Payments Moderator – Rosanna Salaris – Principal A new era of B2B electronic payments will begin for banks and their corporate customers when the nation’s two wire transfer systems, CHIPS and Fedwire, include remittance information with a wire payment. For payments professionals, this change will rationalize the front end of the payments system by creating parity between the ACH and wire transfer in terms of convenience, ease of use, information rich payments, efficiency and environmental benefits. Rossana Salaris, principal of Radix Corporation and one of the nation’s leading experts on the ACH and wire transfer systems, will moderate a panel discussion of the potentially significant impacts this development will have on all parties in the payments value chain. Specifically, the panel will focus on: • The opportunities for banks and companies that embrace the wire remittance standard. Co-Sourcing Opportunities Abound with Receivables Processing Nancy Atkinson – Senior Analyst Research by the Aite Group reveals the majority of the 80 U.S.-based companies with $1 billion or more in annual revenue surveyed process their receivables in-house. Yet 59 percent of respondents are not fully satisfied with their receivables processing, motivating them to seek more effective and efficient means of handling this business-critical process. Further, 71 percent of respondents expressed interest in co-sourcing the processing of receivables with financial institutions, and, costs aside, 81 percent see the perceived value to their companies of implementing an integrated receivables hub. Treasury Strategies estimates that annually, companies spend in excess of $1 trillion conducting their working capital activities, for which only 10 percent is spent with banks. Banks have the opportunity to take the lead in providing enhanced solutions for their corporate customers to promote explosive revenue growth, and to control a much larger portion of the estimated $12 trillion of corporate liquidity, increasing their control above the current 25 percent levels. Tailored to financial institutions, this session will unveil the survey’s surprising key findings and ways to capitalize on the significant opportunities to gain business and increase revenue through vertical markets via co-sourcing and the integrated receivables platform. Power Collecting: Strategy-Driven Collection Automation Workflow David Schmidt – Principal Automating the collection process generates dramatic improvements in AR performance. Participants in this workshop will gain an understanding of the dynamics that drive collection productivity improvements in any environment. Traditional and automated B2B collection processes will then be compared to demonstrate the advantages technology can deliver to the collection organization. Specific areas of the collection process that will be addressed include the creation and implementation of workflow-driven collection strategies, collection prioritization, electronic document management, automated mass dunning, and automated dispute resolution. Participants will leave the workshop with an understanding of the key components and features collection software delivers and will be provided a brief overview of the principal B2B vendors as well as tips for implementing a collection software selection process. Note: The workshop leader, David Schmidt, is co-author of Power Collecting: Automation for Effective Asset Management. Scoring for Dollars: An Introduction to B2B Credit Scoring and AR Portfolio Management David Schmidt – Principal The ability to segment your AR portfolio and rank your customers by risk and other factors provides tremendous insights into the dynamics of your receivables. With that insight, you are then better able to make actionable decisions to increase collection velocity, mitigate risk, and minimize profit dilution. Credit risk scoring is a key component of effective AR portfolio management, and this workshop will explain the four different types of B2B scores as well as their benefits and limitations. From this, participants will learn which types of credit scores are the best fit for their customer base and how to use risk scores during the account approval and account review processes. Additional AR portfolio analysis and management techniques will also be presented for improving credit analysis, prioritizing collections, profitably handling high-risk customers, and identifying customer trends. The Pulse of AR: The Results of the OB10 and IAPP-IARP-TAWPI Annual AR Survey Facilitators – TBA Learn the hottest trends in accounts receivable. This interactive panel on the results of the annual survey by OB10 and IAPP/IARP/TAWPI will discuss critical issues facing AR professionals, including: collections, DSO/payment terms, cash flow, and the economy. Topics covered will include the survey findings, the economic outlook, AR best practices, and recommendations for AR managers. There also will be an opportunity for questions and answers. |