Most companies nowadays rely a lot on crm systems to be the center of communication logging of all contacts between the company and clients. Updating the clients information is the key to success if it as if the information isn't up to date, loss and mis communication happens causing loses to business and opportunities.
Actually, in terms of tangible lost, an invoice or bill could get lost if it is sent to the wrong address or person. One of the latest cases I have seen is that an accountant refuses to update the crm blaming that it is the customers that has to inform the company that the address has changed. Lost invoice went lost in this case.
It would be such a shame for the business if the process was broken at the end when bills could not be collected, despite all the work that the other teams have completed. It is the need of the management to see this as a threat to profitability of the company, rather than piles of uncollectible bills waiting to be collected, hence lesser AR aging days.