Cash flow management is essential for businesses, and one crucial aspect is managing accounts
receivable. Accounts receivable refers to the outstanding balance of money owed to a company for
goods or services that have been delivered or used but not yet paid for by customers. It is recorded
as a current asset on the balance sheet. Accounts receivable represents the amount of money
customers owe for purchases made on credit, and serves as a short-term asset on the balance sheet,
representing the income a company expects to receive, enabling it to cover expenses.
FBC offers outsourced account receivable services to companies of all sizes in the UAE, providing efficient management of account receivables. Outsourcing to the FBC team offers several benefits, including reduced manpower requirements, error avoidance, compliance, and timely service from experts. Additionally, FBC provides comprehensive reporting with essential metrics and business summaries, ensuring transparency and clarity in financial management.
Accounts receivable services involve the management and collection of outstanding customer invoices
on behalf of a business. These services are typically outsourced to specialized service providers
who handle various aspects of the accounts receivable process.
Account receivable service providers handle various aspects, including invoicing, payment processing, collection efforts, account reconciliation, reporting, and customer service related to accounts receivable. By entrusting these responsibilities to specialized service providers, businesses can streamline their accounts receivable process and benefit from their expertise and efficiency.
The key components of accounts receivable services include:
2. Payment Processing
3. Collection Activities
4. Account Reconciliation
5. Reporting and Analysis
6. Customer Service
Outsourcing accounts receivable services offers several advantages. Firstly, it improves cash flow
by ensuring timely and efficient collection of outstanding payments. Service providers implement
effective collection strategies, sending reminders and pursuing payments, which helps businesses
receive their funds promptly. Secondly, it reduces the administrative burden on businesses, allowing
them to focus on core operations and strategic initiatives.
Outsourcing these tasks to experts who are well-versed in accounts receivable management ensures accuracy, compliance, and effective customer communication. Overall, accounts receivable services provide businesses with the opportunity to optimize their financial processes, improve cash flow, and enhance customer relationships.
Take control of your business finances and ensure accurate financial records with our professional accounts receivable services. Book now to streamline your financial management and gain peace of mind knowing your financial transactions are in expert hands.
You can book your appointment by just dialing or sending a WhatsApp message to +971 52 302 7682
You will be assigned to a respected consultant based on your requirements. Our skilled experts will then get in touch with you for consultation.
If all of the necessary facts and documentation are provided during the consultation, our professionals will complete the work in the shortest period feasible.