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Accounts receivable management is the strategic process of overseeing and controlling a company's incoming payments from clients or customers. It involves tracking invoices, ensuring timely payments, and minimizing outstanding debts to maintain a healthy cash flow. Effective management includes setting clear credit policies, regularly following up on overdue accounts, and utilizing technology like automated billing systems. By optimizing the accounts receivable process, businesses can improve liquidity, reduce the risk of bad debts, and ensure steady growth. This vital function enhances financial stability and supports long-term success in competitive markets.
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