Are you tired of the manual process associated with managing your accounts receivable process? Would you like better visibility into the collections process across departments, so you can better predict cash flow? Modern accounts receivable solutions have these top 7 features that can help you improve your collection process and metrics:
- Automated Collection Workflow
- Cash Predictability
- Real-time Insights
- Fast and Easy Integration
- Consolidated Communication History
- Automated Reminders
- Payment Processing
The collections process does not have to be manual anymore with automated collection workflows that provide unique features such as calling, note-taking or emailing directly from the application. Automated collection workflows help finance and AR departments prioritize and improve collections to reduce DSO.
Fast and Easy Integration
Consolidated Communication History & Automated RemindersOne of the features that AR specialists appreciates the most from an automated AR solution is the ability to see full communication history in one spot. This allows them to proactively identify risk and determine which customers need the most attention. Additionally, an automated system will provide payment reminders automatically via email. This allows AR specialists to spend more time on the customer service aspects of AR and less time on the administrative burden aspects.
Payment ProcessingThe best AR solutions will not only automate the collections process, but also allow customers an easy way to make immediate payments with a click of a button. This, in return, helps reduce DSO because it makes it easier for customers to pay. The accounts receivable process has advanced in recent years, and modern companies are leveraging automated solutions that incorporate the 7 features I’ve outlined to increase visibility and better predict cash flow.
Want to learn how you can help your business be more efficient and grow faster? Attend our webinar, called “Improve Cash Flow with Enhanced AR Features” on May 8th, 2018 at 10am PT hosted by YayPay and The Resource