Why Is Understanding Revenue Crucial?

Understanding and analyzing revenue is a vital aspect of understanding your business operations. In fact, it is a primary key performance indicator (KPI) for businesses, small and large. Revenue KPIs provide insight into the following:

• Market demand for products and services
• Effectiveness of marketing strategies
• Identifying seasonal patterns
• Successfulness of new product and service launches
• Overall business growth
• Expansion potential

 The importance of accurate revenue reporting cannot be overstated. Benefits of effective revenue management include: 

• Maintain proper sales tax compliance to avoid penalties and fines during tax filings and audits.
• Build trust with lenders and investors
• Make more informed short-term and long-term strategic business decisions

Total revenue not only determines your business’s profitability but also the rate at which it can grow and expand. There is no doubt you want to keep a very close eye on your revenue.

Importance of Accounts Receivable (AR) Management

Accounts receivable are considered assets because they represent money that is owed to your business for goods or services you’ve already provided. While the payment has not yet been received, your business has a legal right to collect this amount in the future, making it a valuable resource. A robust accounts receivable management program is crucial to effectively assessing, predicting, and managing your business’s cash flow.

Collecting customer payments in a timely manner is at the heart of having and sustaining adequate cash flow. Tracking accounts receivable enables you to plan cash flow and make smart business decisions that ensure you have the capital to pay your short-term bills and operational costs.

While focusing on your sales is a priority, it is just as important to ensure your business is being paid for its goods and services. enTune’s financial advisors are experts at accounts receivable management and invoice collection. Our team will ensure your accounts receivable process is as streamlined and efficient as possible.

Efficient Invoice Processing Solutions

Implementing a streamlined invoice processing solution is the key to receiving client payments faster. Your invoice processing solution should achieve the following:

• Allow convenient payment methods (e.g., online) – Customers are more likely to pay when they can do so using either an online payment method or one they are familiar with and comfortable with.
• Easily create and send invoices – The ability to quickly generate and send invoices to customers reduces the number of days in the invoice and payment lifecycle.
• Automate the process – Automating your business’s invoicing process increases efficiency, reduces human error, and creates records that are easier to track and more easily accessible by all involved parties.

enTune’s Revenue & Accounts Receivable (AR) Services

Our experienced team of financial advisors offers the following services for revenue and accounts receivable (AR):

• Invoicing clients (including AIA forms and other invoicing processes)
• Systemizing and routine collections process
• Tracking open and unpaid invoices and communication with stakeholders in the organization
• Making collection calls to promote healthy cash flow

Let enTune Financial Services Manage Your Accounts Receivable Department

There is no question that revenue, accounts receivable, and invoicing management are critical to the sustainability and growth of your company. You need a dedicated financial team in your corner focused on improving and streamlining your accounts receivable department. enTune Financial Services, headquartered near Charlotte, proudly serves businesses across the nation. Do not let another quarter pass by letting your accounts receivable slip through the cracks. Schedule your complimentary consultation with enTune today!