News & Notes from IACC
Invoiced Officially Announces First-Ever National Accounts Receivable Appreciation Day
Day Devoted to the A/R Profession Formally Registered with the National Day Archives, to be Celebrated Annually on First Thursday of March
Invoiced, the leading solution for accounts receivable automation, officially announced that National Accounts Receivable Appreciation Day has been registered with the National Day Archives and will be celebrated annually on the first Thursday of March. The inaugural National Accounts Receivable Appreciation Day took place last week on March 7, 2019.
National Accounts Receivable Appreciation Day is a celebration of the people, process, traditions and value of accounts receivable in today's business world. This national day honors the teams and individuals who work tirelessly to collect on outstanding sales and make sure that the rest of the business world can continue making payroll, paying suppliers and serving customers.
"If anyone in business is overdue for appreciation at the national level it's accounts receivable professionals," said Bill Balduino, president and chief operating officer for The Credit Research Foundation. "A/R professionals are the ones who help their employers get from order to cash and bring money in the door. I am pleased to support such a worthwhile celebration and to help A/R pros finally collect the outstanding balance of recognition and credit they so richly deserve."
"Wow! How exciting it is to have a National Day for everyone that works in accounts receivable," said Frank Sebastian, director of credit services for adidas INDY. "Accounts receivable is one of the most valuable assets of a company and, many times, taken for granted. There are many folks who work extremely hard in this line of work that do not get noticed or appreciated. Hats off to everyone who works in AR and take this day to celebrate all of your accomplishments. Happy National Accounts Receivable Appreciation Day!"
"We're honored to bring National Accounts Receivable Appreciation Day to the world," said Jared King, co-founder and chief executive officer for Invoiced. "Honestly, we were shocked that such a day had not already been established given how crucial the accounts receivable function is for modern business. As a company that's solely focused on helping accounts receivable be more effective, we at Invoiced can think of no other function that is owed a greater debt of gratitude and appreciation."
"The accounts receivable function is an incredible asset to leading, high-growth organizations and Sage Intacct is thrilled to celebrate the first-ever National Accounts Receivable Appreciation Day," said Rob Reid, executive vice president and managing director for Sage Intacct. "What a phenomenal way to express our gratitude to the individuals in this important role."
"Recognizing the hard and valuable work that accounts receivable professionals do in any organization is always a worthwhile endeavor," said Ernie Martin, founder and managing director for Receivable Savvy. "Kudos to Invoiced for establishing National Accounts Receivable Appreciation Day, something that's long overdue."
Why Accounts Receivable Professionals Deserve Their Own Day
Accounts receivable professionals play a significant role in how businesses operate by collecting on outstanding sales. Without the work of skilled, diligent A/R professionals, companies wouldn't be able to collect and process the cash needed to make payroll and continue operations. America's A/R pros deserve to be recognized for the crucial and often thankless role they play in modern business.
How to Observe National Accounts Receivable Appreciation Day
The primary way to celebrate National Accounts Receivable Appreciation Day is to directly recognize and express sincere appreciation to co-workers who handle accounts receivable or anything relating to billing or collections. Following are additional recommended traditions:
- Co-workers of accounts receivable (A/R) professionals should go out of their way to make the day special. Whether bringing in a commemorative cake, buying a cup of coffee, showing up with flowers or simply stopping by to say thank you, co-workers, including supervisors and senior executives, should be showering A/R staff with the recognition and validation they don't typically receive.
- Debtors are encouraged to promptly pay on outstanding bills and invoices and, when possible, to include a note of thanks for the professional manner in which the A/R representative has been attempting to collect payment. Tipping is discouraged.
- If customers or clients do not have an outstanding balance on National Accounts Receivable Day, they should consider sending a note of appreciation or token gift to the A/R representative for their role in facilitating a zero balance.
- Other recommended traditions include playing a brief game of "Pin the Invoice on the Ledger," striking a piñata in the shape of the company's largest outstanding debtor or accounts receivable vs. accounts payable tug-of-war (weather permitting).
National Accounts Receivable Appreciation Day is for businesses of all sizes and can be celebrated in private or in public. The official day of celebration was created and registered by Invoiced via the National Day Archives in January 2019. For more information and to read and share stories about accounts receivable, billing and collections, visit ReceivableDay.org. To share stories and recognition on social media, use the hashtag #ReceivableDay.