Accounts Receivables Automation
Accounts receivable is one of the crucial aspects of any organisation.
It not only brings cash into the business but is also fundamental to the success of an organisation. The absence of accurate and timely invoices to customers would disrupt the cash flow, restrict the growth and bring instability in the business.
In order to keep the process ongoing, the accounts receivable team in your organisation has to spend time manually creating, proofing, reviewing, printing and mailing invoices. This results in slowing down of your turnover time and workflow processes. Therefore, it becomes essential to improve your accounts receivable process and reduce days sales outstanding.
Improving Accounts Receivable Process
Accounts receivable automation is the solution to this. It helps you substantially cut the time from invoice to payment by optimizing your customer invoicing and payment processes. It helps you better manage your accounts by automating manual-based, time-consuming and repetitive tasks. Automation can free up your accounts receivable team to focus on higher-value work such as chasing payments and mitigating bad debts rather than preparing and posting hard-copy invoices.
Accounts receivable automation increases the accuracy of invoicing and payment processes thereby having a positive impact on the cash flow and profitability of the organisation. It further provides valuable and accurate information for the preparation of financial statements.
Benefits of Automating Accounts
Receivable Process With Us
Accounts receivable automation helps to consolidate information in one place which makes it easy to find it later. Furthermore, it reduces duplication, eliminates manual errors and makes the entire process quick and efficient.
It frees up the accounts receivable team to focus on more productive and profitable activities.
With minimum human involvement, it can capture and process voluminous data in an efficient manner.
It can easily manage numerous customer transactions such as payments, invoices and credits.
It helps to improve cash flow in the organisation as payments are timely collected.
Managers can use the accounts receivable automation software to track the effectiveness of their accounts receivable team or department.
It reduces the costs of manually creating, printing and sending invoices along with other associated overheads.
It ensures accuracy by matching the payments, invoices and credits with the sales order and quotes.
It lets you feed customised approval processes for various accounts receivable transactions.
It is easy to integrate accounts receivable automation software with accounting solutions and ERP accounting modules of the organisation.
It provides managers with various reports on the status of invoices or payments, customer credit and past transaction records.
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