GROWING A ROCKSTAR AR TEAM WITH FINANCE AUTOMATION
Managing receivables may never be as cool among starry- eyed teenagers as touring with a chart-topping band,
but financial automation can make accounts receivable professionals into rockstars.
Economic uncertainty has made customers more reluctant – and in some cases, unable – to release payments. Hybrid work environments are making it difficult for AR teams to track invoices, access AR data in systems of record, and to develop strategies for collecting past-due invoices. Manual processes make it impossible for AR departments to efficiently scale to support business growth. And collecting data for cash forecasting and financial planning is tricky in a manual environment.
Automating accounts receivable – activities such as invoicing, payment processing, collections, and analytics
– addresses these problems and helps AR make fans out of their senior finance executives by improving crucial cashflow metrics such as average days late, aging balance, and write-offs.