FAQ

Frequently Asked Questions & Accounts Receivable Best Practices

Detailed information about our managed accounts receivable & credit management services.

This isn’t business as usual.

Many businesses handle their A/R internally because they don’t realize there’s another way to operate. This leads to stressed staff, increased
accounting overhead and missed opportunities to collect on aging invoices. By outsourcing your receivables to our dedicated team of A/R
specialists, you get the benefit of the accounts receivable best practices we have established in our 30+ years in business.

A/R FAQ

  • What makes Axim so effective?

    Our proprietary state-of-the-art software is designed to maximize efficiencies in collecting A/R. We maintain contact with your customers on a precise timeline, using our automatic follow-up process to eliminate payment barriers, speed up remittance and improve your cash flow.

  • How will my customers be treated?

    Maintaining a courteous relationship with your customers is important to us. Our staff of A/R specialists get results from your customers in a friendly, respectable way.

  • Will being contacted by Axim confuse my customers?

    We contact your customers on your behalf, using your company name. As such, we act as a virtual extension of your in-house accounting department. Your customer’s experience with your company will feel seamless through Axim.

  • Can I monitor your efforts with my past due customers?

    You have 24/7 access to your receivables through our online Axcelerate A/R system. You can view in real time the status of each customer, including notes, disputed invoices, payment promises and aging reports.

  • What if I need Axim to be more aggressive with a particular customer?

    We generally handle customers with respect and courtesy. However, with your permission we can intensify our efforts to obtain payment. You will always make the final decision about how firmly we treat your customers.

  • Do you have chargeback/deduction experience and resolution?

    Yes, since we have serviced the apparel and manufacturing/distribution industries for 40+ years, we can help you navigate chargebacks and deductions.

  • Where will my customers send payment?

    All customer payments go directly to you. We break down any barriers to payment and make sure the check is in the mail.

  • Is Axim a collection agency or a factor?

    No, we are not a collection agency or a factor, nor do we offer accounts receivable funding. We are simply an outsourced accounts receivable management company. We do not purchase your invoices nor do we receive any payments on your behalf. We handle the credit process and first-party invoice collection function on behalf of your business in an effort to improve your accounts receivable.

  • Will I have regular access to my receivables report?

    Our web-based software allows you to access your account at any time, from anywhere. We also provide monthly and quarterly reports to keep you informed.

  • How does the Axim outsourced A/R process work?

    Our process works via 4 simple steps:

    1. We upload your aging report into our Axcelerate A/R software. We look at your number of outstanding invoices and conduct a DSO calculation.
    2. We assign your account to an A/R specialist who contacts your customers in your name via phone and email based on agreed upon priorities.
    3. Customers send their payments directly to you. You post payment into your current accounting system as usual.
    4. You receive 24/7 access to your receivables information so you can see real-time updates of your A/R performance. We schedule quarterly reviews with a member of your staff to discuss our progress.
  • Do I continue to ledger my receivables in my accounting system?

    Yes, you continue to ledger receivables in your current accounting system. We upload a daily “snapshot” of your detailed A/R which we use to manage the credit process and first party collection of your receivables.

Credit Management FAQ

  • How do you determine the most appropriate terms for my customers?

    We conduct an extensive investigation on any customer to whom you are considering extending or updating terms. By digging deep into financial records, credit reports, and bank and vendor references, we are able to make a recommendation based on reliable facts that paint an accurate financial picture.

  • What if I want to be aggressive with credit?

    We understand that every business has unique immediate and long-term goals. We adapt our services to meet your needs while offering you reliable and sound credit advice.

  • How can I ensure that my customers will pay?

    No business can ever be 100% sure that their customers will remit prompt payment but our decades of experience and deep industry expertise enable us to accurately assess the creditworthiness of prospective and existing customers.

Axcelerate A/R Software FAQ

Other FAQ

  • Am I required to sign a long-term contract with Axim?

    Our services are offered on a month-to-month basis so you never have to commit to a long-term relationship with us. However, our average client has stayed with us for 8+ years, proof that we maintain superior service on a consistent basis.

  • What experience do your principals have?

    Our owners have been involved with credit management and first party receivables collection since the 1960s. Our President was the Senior VP of a major factoring company and discovered a need to fill the gap between factoring and in-house A/R. As such, he developed a business dedicated solely to providing outsourced A/R and credit management services.

  • How long has Axim been in business?

    We have been the virtual credit and collection department for hundreds of clients since 1984. Formerly called Business Credit Services, we have consistently reduced past-due percentages to below industry norms and helped businesses eliminate the problems associated with staffing internal A/R, including employee turnover, hiring & re-training personnel and absenteeism.

Have questions? Need support? We’re here for you.

Contact us to learn more about how our virtual accounts receivable and credit management services can help your business accelerate your cash flow and reduce your costs.

Call (800) 427-4274