As the economy struggles, companies will need enhanced receivables and collections management capabilities to reduce inefficiencies and drive costs out of their financial operations, according to Henry Ijams, CEO of PayStream Advisors, a payment research firm. Ijams spoke during the PayStream Webinar today, "Five Finance Tools You Need to Manage in the Downturn," that covered the need for better account receivables efficiencies in the wake of the current economic environment.
Whether or not the economy is in a recession – two straight negative quarters – is a subject of debate that won’t be settled until GDP figures are available in future months. But the slowdown is evident and a recession is virtually inevitable, according to Ijams, who expects any recession to be shallow and relatively short-lived.
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