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Companies of all sizes often find that managing their accounts receivable is a time consuming and labor-intensive process. At the same time, they realize that if this function is not managed efficiently, it could result in sluggish cash flow and unacceptably long days' sales outstanding (DSO). That is why they turn to CIT TotalSourceSM.
CIT is one of the nation's leading providers of accounts receivable management. Through years of process improvement and automation, we have developed a methodology of efficiently managing all aspects of a company's accounts receivable function, from billing through collections and reporting.
Below are some of the most frequently asked questions about CIT TotalSource. If you have additional questions or if you would like more information, please e-mail us or call us at (800) 248-3240. We look forward to working with you.
Frequently Asked Questions
What is CIT TotalSource?
What are the benefits of TotalSource?
What does TotalSource include?
What type of companies benefit from this service?
How can I learn more?
Can I get a free price quote?
What is CIT TotalSource?
CIT TotalSource is a customized outsourcing program designed to manage the full life cycle of your company's accounts receivable. It offers a productive and proactive approach to managing the order-to-cash process. Your company's back office operations can be performed by CIT, enabling you to dedicate your resources to core business needs.
What are the benefits of TotalSource?
Our client have realized a number of benefits from this service, including:
- Reduced operating costs by streamlining receivable operations
- Increased collections
- Improved cash flow
- Reduced write-offs
- Reduced days sales outstanding (DSO)
- Increased accounts receivable reporting capability
- Expedited dispute and deduction resolution
- Enhanced collateral value of their accounts receivable
- Access to best practices in managing receivables
- Skilled, stable workforce
What does TotalSource include?
TotalSource is a flexible service that is tailored to meet the needs of your company. You may cost effectively outsource any or all of these accounts receivable functions:
- Electronic billing for EDI-formatted transactions
- Receipt and posting of accounts receivable transactions
- Lockbox and related check processing transactions
- Cash application including EDI-820 remittance processing
- Management of the entire collection process through to resolution
- Management of the dispute and deduction recovery processes
- Comprehensive financial reporting for analysis and preventive action
What types of companies benefit from TotalSource?
Companies of all sizes and in all stages of the business cycle can benefit from outsourcing their receivables management. Companies that are particularly prime candidates are those that are:
- Seasonal or cyclical
- Restructuring
- Cutting costs
- Acquisition minded
- Rapidly growing
- Downsizing
- Secured borrowers
- In a turnaround situation
How can I learn more?
For more information about how you can put the resources of CIT TotalSource to work for your company, call (800) 248-3240 or e-mail us. We look forward to working with you.
Want a free price quote?
Fill out our on-line form for a free price quote. Put the resources of CIT to work for your company today. | 
