Modern AI and automation tools, such as those built on ServiceNow, can transform the traditionally negative experience of B2B collections into a positive customer interaction that enhances cash flow. By using AI to score each invoice and proactively engaging customers before the invoice is overdue, businesses can address issues early and build stronger customer relationships. This approach not only improves customer experience but also reduces past-due invoices and shortens Days Sales Outstanding (DSO), leading to better cash flow.
B2B collections have long been seen as a necessary but negative part of doing business. It's a process where both sides often feel frustrated: businesses want to get paid, while customers feel defensive about delayed payments. But what if we could change that? What if collections became a positive customer interaction that also improved cash flow? With modern AI and automation tools, such as those built on ServiceNow, this is now achievable at scale.
Traditionally, the invoicing process has been fairly straightforward: businesses deliver goods or services, send an invoice, and wait for the due date. If the customer hasn’t paid by then, the collection process kicks in. At that point, no matter how politely the follow-up is handled, the conversation often puts customers on the defensive, as they scramble to explain why payment wasn’t made on time. This cycle has persisted because most companies haven’t had the resources to manually follow up on every invoice before its due date.
Enter AI. Today’s advanced technology allows us to score each invoice with a “likely to pay” metric based on the customer’s past behavior, whether it's a new or repeat order, and other relevant factors. With this data, automation and scripted accounts receivable (AR) agent playbooks can be used to proactively reach out to customers who are less likely to pay on time. This outreach ensures customers have onboarded us into their accounts payable (AP) system correctly and that our invoices are being processed smoothly.
By engaging with customers before the invoice is overdue, we turn a potentially negative experience into a proactive, helpful interaction. Rather than waiting for a payment to be late, we work together with customers to identify and address any issues that might prevent them from processing our invoices on time. This shift helps build stronger customer relationships and positions us as partners in their success, rather than just another vendor.
The impact goes beyond improving customer interactions. By reducing the number of past-due invoices and shortening Days Sales Outstanding (DSO), businesses can see a marked improvement in cash flow—a win-win for everyone.
If you're ready to transform your accounts receivable operations using automation and AI, and improve both customer experience and cash flow, contact Workpact today. Let’s reimagine what B2B collections can be.
