Accounts receivable (AR) is crucial for businesses but often undervalued, creating risks and missed opportunities in cash flow management. AR teams offer valuable insights into payment patterns and economic impacts, but face challenges due to outdated systems and lack of investment priority. Modernizing AR is essential to leverage its strategic value and enhance customer relationships.

Legacy AR systems pose data security risks and are vulnerable to cyberattacks, necessitating modernization to protect sensitive information. Neglecting AR can lead to financial losses and missed operational benefits. In today’s uncertain economy, businesses must prioritize AR modernization to improve forecasting, cash flow control, and overall resilience.

Investing in modernizing AR is critical for business success, enabling teams to provide insights, enhance security, and drive resilience. Neglecting AR can turn a low-profile gap into a critical point of failure. Business leaders must recognize AR as a strategic asset and empower teams to fulfill their potential in today’s challenging economic landscape.

Read more at Yahoo Finance: From neglected function to strategic imperative