Many businesses struggle with trapped cash due to inefficient accounts receivable (AR) workflows, impacting liquidity and growth. With $300,000 in average outstanding late payments, companies must optimize AR to unlock working capital. Seven key strategies include tracking KPIs, controlling payment terms, enhancing payment experiences, monitoring customer payment patterns, automating reminders, optimizing collections, and updating cash forecasts. AR automation tools like Centime streamline processes, reducing overdue payments and boosting cash flow. A case study shows how a software company cut outstanding receivables by 85% using AR automation, proving the impact of technology in improving financial stability.

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