Forty-one percent of companies have needed to increasetheir collections efforts and more than half have been contacting theircustomers more frequently to receive payment, according to a new survey.

The survey, by the International Accounts ReceivableProfessionals and OB10, indicate that AR professionals are taking a number ofsteps to ensure more predictable payment from customers, while predicting ageneral improvement in their organization's overall economic situation in 2010.Survey participants included presidents, CEOs, owners, CFOs, AR directors andAR managers from organizations across a broad spectrum of industries and sizes.

The survey also asked AR professionals to indicate theaverage number of days it takes their customers to pay them once an invoice hasbeen submitted. The result was an average day's sales outstanding of 36.1 days,with 69 percent of respondents citing that their invoices are paid between 26and 50 days after being submitted to their customers.

For more information on the survey, visithttp://OB10.com/ARSurvey.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access