Modernize your accounts receivable operations to increase cash flow, lower AR costs, and improve customer satisfaction.
Efficiently managing accounts receivable (AR) operations is crucial for maintaining healthy cash flow and ensuring operational success. Businesses are often left reacting to past-due invoices and spending limited cycles on customers with a history of prompt payment. Both negatively impact cash flow and AR operational efficiency. Here’s why you should consider automating your AR operations with Workpact.
1. Improved Cash Flow
The most significant benefit to automating accounts receivable operations is improved cash flow. Our accounts receivable operations solution removes the barriers that prevent customers from paying on time, thus reducing days sales outstanding (DSO), avoiding expensive collection processes, and increasing liquidity.
2. Enhanced AR Operations Efficiency
Organizing AR operations into a centralized system to capture all internal and external communications alone can save many AR teams significant effort. Our system, built on ServiceNow, will not only centralize interaction but also prioritize your AR efforts to focus on those activities that materially impact your organization’s order-to-cash cycle.
3. Better Customer Experience
There are two primary interactions that drive negative AR customer experience. First, most AR operations wait until customer invoices are past due and then start a less-than positive customer collection experience. Second, we rarely check if the information we are sending our customers meets their needs to process payments. With our accounts receivable operations automation, we prioritize and automate work to identify potential issues before we reach the past-due invoice collection process.
4. Improved Financial Insights
Using the information we automatically collect in our AR automation process, we more accurately project customer payment dates. This improves our financial forecasting and reporting, and allows us to proactively mitigate issues with customers most likely to miss payment dates
Accounts receivable operations automation will greatly enhance your cash flow, customer experience, and financial insights while lowering operational costs. Let Workpact modernize your AR process with accounts receivable operations.
