Accounts Receivable Automation

When it comes to   Accounts Receivable Management , delayed collections, higher DSOs, bad debts, inaccurate or uninformed manual forecasting methods, spreadsheet errors, and lack of 360o visibility are an unfortunate reality that many companies are forced to live with. The AR Teams in these companies have to meander through tons of Excel sheets that make the already complex AR function more tedious, mundane and prone to human errors. Moreover, they are stuck and are forced to spend a more than significant amount of their time doing repetitive manual processes that are error prone. The result – the AR Teams keep doing this each and every day and are not able to devote much tome to focus on value-driven data analysis. AR Automation Software Solutions , such as Inebura from TanServ, can change all that and bring about a transformative change to this already complex process. By implementing such solutions, businesses can shorten the invoice-to-cash cycles, reduce costs, improve process vis

Huh!... Blockchain and AR Automation? What’s the connection? This would be the question on the minds of most of us because when hear the term ‘blockchain’, we almost immediately think of cryptocurrency (Bitcoin, Ethereum…). Well, there’s more to blockchain than just cryptocurrency. In fact, blockchain offers tremendous opportunities for multiple applications, and one such potential application is in the  management of Accounts Receivable s, as part of the e-invoicing process. For any business, the current invoicing process involves delivery of invoices (either online or offline), followed by a reconciliation process against POs & purchasing system data, and finally payment. This, already long process, is slowed down by the need for approval and review at every stage. While automation of e-invoicing helps deliver invoices faster, and businesses are looking at automating payment processing as well, there are still several ways to increase accuracy and speed. And one key way is Blockc

Can ERPs be used for Accounts Receivable Management? While the answer is, “Yes, you can.”, the correct answer, in fact, is “No!” The reason is that while ERPs will provide AR data to your individual teams, but they will not be able to provide data at the level of complexity as AR Automation Solutions can. AR Automation Solutions provide details data and analytics on every aspect of the collection process so that your teams can actually draw useful insights that can help make strategic financial decisions. So, when it comes to ERP and  Accounts Receivable Management , the best thing to do is to integrate your existing ERP with an AR Automation Software. We, in fact, did a small survey with CFOs, that truly threw up some very surprising results. More than half the CFOs we surveyed believed and feared that the integration of their existing ERP and an AR Automation Software will actually not be feasible. The most important reason in their minds was that the cost of integration will be too

Efficiently and effectively managing the accounts receivable process is a tedious and a time-consuming job. For CFOs and their finance teams, optimizing accounts receivable is one of the three cornerstones of efficient working capital management that plays an important role in freeing up cash that’s hiding in the business processes. Organizations that use conventional AR Management Processes are perpetually struggling to chase, collect payments and reconcile payments and for that they spend a significant amount of time going through multiple spreadsheets to track information and deliver reports on key AR Metrics. The highly manual processes bring about frequent errors that lead to payment disputes, which in turn lead to either late payment or bad debt.  If you can identify with the above scenario then Accounts Receivable Automaton Software is the solution that you definitely need. The software will streamline the entire invoice-to-cash-cycle so that you improve your collection potentia

Accounts receivable (AR) management can be challenging for businesses, especially when it comes to processing invoices, tracking payments, and managing collections. However, with the advancements in technology, automation tools have emerged that can help businesses streamline their AR processes and overcome these challenges. In particular, the use of augmented reality (AR) automation can provide a range of benefits for businesses, including improved efficiency, accuracy, and cost savings: Manual data entry and processing One of the biggest challenges in AR management is the need for manual data entry and processing. This can be a time-consuming and error-prone process, leading to delays and inaccuracies in invoice processing and payment tracking. However, with AR automation, businesses can streamline their invoice processing and payment tracking by automating these tasks. AR automation tools can extract invoice data automatically, eliminating the need for manual data entry, and

The Accounts Receivable function, for any organization, is well placed to strengthen its cash flow, improve its working capital and even contribute significantly to customer satisfaction. However, efficiently managing their Accounts Receivable Process for any organization is a tedious process and it’s making them rethink their AR in a strategic way with the goal to shorten the entire invoice-to-cash cycle, reduce costs, improve process visibility and release additional liquidity. Currently, the AR teams keep themselves extremely busy with several activities that include, credit management, invoicing, tracking aging reports & payments, sending reminders, dispute resolution, maintaining accurate customer master data, cash application, payment collection, payment reconciliation etc. etc. All these tasks are highly repetitive and rely on outdated paper-based processes and manual interventions that could lead to delays in payments, increase in costs, errors that lead to disputes, and li