Retention Receivables

Retention receivables are amounts withheld by customers until certain contract conditions are met, typically seen in construction or large projects. These amounts are often held back to ensure the completion of work to the customer's satisfaction. Managing retention receivables ensures that businesses receive full payment once contract conditions are met, improving cash flow.

Automation of retention receivables tracking ensures that businesses are notified when retention amounts are due and can take action promptly.

AI-driven AR systems help businesses track and manage retention receivables in real time, improving efficiency. Proper management of retention receivables ensures businesses do not miss out on withheld funds, which can significantly impact cash flow. Retention receivables automation reduces the time spent on manual follow-ups and ensures timely collections.