Accounts Receivable Automation

Cash Flow Management Cash flow management software transforms businesses by providing real-time insights into financial operations, streamlining processes, and enhancing decision-making. This software allows companies to monitor cash inflows and outflows with precision, identify trends, and predict future financial positions. By automating tasks such as invoicing, payments, and expense tracking, it reduces errors and saves valuable time. The comprehensive reports and analytics generated help businesses make informed strategic decisions, optimize resource allocation, and improve profitability. Ultimately, cash flow management software empowers businesses to achieve financial stability and growth, ensuring they stay competitive in a dynamic market. When your business is running smoothly as far as operations are concerned, and also generating a lot of sales, you tend to assume that everything is hunky-dory on the financial front. However, despite their increased revenues, many businesses...

Consider the following scenarios: 1. Your Ar Teams Have To Struggle Through Several Manual Processes, Such As Sending Out Reminders And Dunning Letters Built On Excel And Outlook. In conventional  AR Management Systems , sending out manual reminders to customers about overdue payments and sending out dunning letters are highly dependent on human intervention. The things that helps your AR Teams follow this process are Excel sheets, mails on Outlook, and calendars on your computer. Just imagine the impact if human error in this manual process misses out on either an important set of bills or reminders. 2.  Your Ar Teams Are Increasingly Dealing With Incoming Requests For Statements, Invoices, And Documentation.  In conventional AR Management Systems, your AR Teams, instead of sending out scheduled and proactive mails or reminders to customers, are flooded with requests from customers to send data and information that should have been sent out proactively in the first place...

  The best Accounts Receivables Strategy involves tracking of open receivables before they become delinquent and cause severe cash flow problems. So, if your organization is facing cash flow issues, you know your AR strategy is either falling short or failing. So proper steps need to be taken, however, before you start to solve this issue, you need to understand what and where things are going wrong. Below are some key reasons for a failing AR Strategy: 1. LACK OF STANDARDISED PROCESSES: Lack of a formal, watertight, and standardised  AR Management  Plan is a guarantee of ineffectiveness. The effectiveness is further compromised by tedious and mundane manual processes; random follow-ups, addressing ad hoc issues and then desperately trying to connect the various dots to pinpoint the issue. This, instead of pinpointing the issue, actually results in a lack of clarity and a complete defocus from the major objective. The correct approach is to immediately, and on priority, l...

  Data Analytics for Predictive Insights is assuming far greater importance when it comes to efficiently managing the  Accounts Receivables Process . From forecasting customer payment patterns, to spotting possible credit concerns to maximizing cash flow, to improving an organization’s overall financial process, to lowering bad debt, to getting the ability to make well-informed strategic decisions, the role of Data Analytics cannot be undermined. Businesses and organizations that still rely of siloed legacy technologies and systems have data locked up in themselves and this truly obstructs efficiency by creating an unduly complex, non-integrated and inefficient AR landscape. Integration capabilities can help create a single source of truth that can, not only enhance decision-making, but also give AR Teams and other teams a more seamless & cohesive experience that helps boost productivity and of course motivation. MAJOR BENEFITS OF INTEGRATING DATA ANALYTICS INTO THE PROCES...

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...

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 Bl...

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 ...