How to Make AR Part of Everyone’s Role

No matter how integrated companies become, there remains a tendency to silo key responsibilities. For example, this paradigm still exists in many organizations:

• Making the sale is sales’ only goal.
• Delivering the product or service is fulfillment or implementation’s lone focus.
• Customer support is the CX team’s single aim.
• Invoicing and collecting are only the responsibility of AR.

However, everything that fulfillment, CX, and AR do can impact future sales. Likewise, the actions of all teams that precede AR in the customer’s journey can affect the customer’s payment pattern. So, it’s vital that everyone from the first contact to the last feels a responsibility for the success of AR. Here’s how to accomplish that.

Spread Cash Flow Literacy

Most employees see that cash is at the core of every business, but that doesn’t mean they understand how cash flow works. Make cash flow literacy integral to new-hire onboarding and ongoing training. Instill the difference between positive and negative cash flow, how it affects every aspect of the business, and how day-to-day practices can either drive or hinder success. Every employee should understand what can be accomplished when the company is free cash flow positive and how their contribution to this goal is crucial to supporting the company’s mission and values.

Make Customer Service a Priority

Happy customers tend to be repeat customers. Likewise, satisfied customers are more likely to pay their invoices promptly. Feeling a personal connection with your business builds trust if there’s ever an issue to resolve that may otherwise delay payment.

Weave excellent customer service into your corporate culture and ensure that each interaction with your teams leaves customers satisfied and feeling positive about your company. Evaluating dedication to customer service during annual reviews helps make AR everyone’s responsibility.

Celebrate Paid Invoices Throughout the Company

Your sales team celebrates when they make a big sale, and your implementation team enjoys a pat on the back when a product or system has been successfully installed for a customer. That’s great for motivation, but that sale or install doesn’t equate to cash until the customer pays the invoice.

Celebrate everyone’s part in bringing this team effort to its desired culmination — on-time payment. When everyone has an eye on cash flow, these wins motivate and inform. Analyze customer service’s hits and misses and build excitement around doing more of what worked.

Discuss Past Due Accounts Beyond AR

Discuss aging customer accounts collaboratively. After all, someone in sales may be able to get their buying contact to champion for invoice payment. Customer fulfillment or CX may be able to resolve a delivery delay or customer service issue that is the reason your customer isn’t paying you. When you make everyone aware of overdue invoices, they know it’s time to play their part in getting the company paid.

Give Other Departments Visibility Into Invoice Status

When you implement an automated AR platform like Tesorio, you can grant appropriate access to other teams, which gives them greater visibility into the invoices for their accounts. They can then collaborate with AR and help get the invoice paid by noting an upcoming due date or overdue payment in their customer conversations for a message that fully syncs with AR’s efforts.

Ready to make AR a part of everyone’s role? Request a Tesorio demo today.