We recently centralized our AR & AP team into a Shared Service Center. As a credit manager, we are always watching (or praying) for money to come in and then ensuring it’s applied correctly.
With our new centralized AR team still learning all the quirks of each of our OPCO’s, we see a lot of mistakes. Some are obvious, some not.
So, my question is, what does your AR team consider to be a good/ fair benchmark to grade their team on how well (or not so well) they are doing?
Is there a good way to track? We send a number of emails when we see things not posted as specified and will utilize the subject line to indicate if “correction needed”, or “discount needed”, etc., but besides actually counting emails/ subject titles, what do your AR team use to monitor, track errors and what is the benchmark/goal of their AR folks?
All suggestions welcome and appreciated!