Slow receivables reduce profits, reduce funds available for needed or desirable capital expenditures and resource improvements, and increases the costs of doing business.
Research from the U.S. Department of Commerce shows that after 90 days, 26% of accounts can be uncollectible. The same applies to unbilled work in progress – the older WIP is, the higher the collectability risk. In this economic climate it is not only prudent, it is essential that you bill promptly and closely manage receivables. Or else your uncollectible accounts, profits, funds, etc. will be severely impacted.
BillQuick contains many reports to help you track and analyze receivables and work in progress with at-a-glance Dashboard information, scheduled reports automatically delivered to your Inbox, and tracking of billing decisions and collections conversations right in BillQuick.