Despite starting 2020 on strong footing, the U.S. economy has almost certainly plunged into recession due to the coronavirus pandemic, also known as COVID-19. Even as states begin to reopen, consumer demand is frozen and supply chains are disrupted. Businesses in every industry, including accounts receivable management (ARM), continue to face significant obstructions to normal operations. There is no doubt that what was the longest economic expansion ever recorded has ended.
To better understand the depth of the recession and its impact on the ARM industry, Kaulkin Ginsberg reviewed recently released economic data and surveyed ARM companies of all sizes and market verticals. The results offer tangible data that can help executives make critical operational decisions in these turbulent times.