FAQ

How does A/R Automation help you lower bad debts?

Accounts receivable automation lowers bad debts by making it easy for B2B buyers to remit payments, which get automatically reconciled to the proper account and purchase order. 

Why do companies use A/R automation?

A/R automation reduces tedious and time-consuming tasks for your accounts receivable department. Benefits include:

  • Faster handling of invoices
  • Reduced invoice mistakes and errors
  • Stronger data security
  • Quicker detection of fraudulent or unusual transactions
  • Improved customer relations

Eliminating manual data entry and processes improves the efficiency of workflows. Rather than getting stuck on collections or repetitive tasks, A/R teams can focus on higher-value responsibilities.

 

How does A/R automation reduce payment delays?

Nearly 93% of organizations struggle with late payments from customers that can cascade into debt write-offs. To avoid debts, businesses focus on minimizing Days Sales Outstanding (DSO), which measures the average time to collect payments from customers.  According to a Pymts survey, mid-market firms that still use mostly or completely manual payment processes face average days sales outstanding (DSO) times that are as many as 14 days longer than those that use automated processes.

Automation reduces payment delays and therefore potential debt by enabling:

  • Timely distribution of customer invoices
  • Issuance of accurate invoices to avoid payment delays and disputes
  • Automatic posting of customer payments, making it easier to track whether accounts are up-to-date or require payment reminders
  • Integration with payment platforms for easier and convenient payments
  • Insights to improve A/R policies and avoid extending credit to customers likely to default

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