Accounts Receivable Automation

  In this age when India has become the hot bed of startups and with such a thriving eco-system to support the startups, it is still pertinent to remember that 80-90% of startups fail, as per a report by IBM. According to the Startup India program, around 27,000 startups registered under the program till 2020 and almost all the reasons why Indian businesses fail early, are connected to innovation and leadership: inadequate business models, bad planning, flawed consumer insights, or a lack of unique ideas. If we specifically look at the B2B space, the traditional B2B supply model is built on credit. Companies that ventured into non-secured credit and without any credit rating policy dictating the credit line failed as well as companies who didn’t manage their cash flow well to realize the revenue into a tangible entity. In this blog we will investigate major areas that startups have to look into and gradually we will dig deeper to uncover the final truth! So lets first understand the jo

AR automation offers a tailored approach for various business roles. CFOs can use it for financial planning, accountants benefit from simplified reconciliations, and business owners enjoy quicker collections and improved financial management. CFOs, AR Managers, and AR Collection Teams – all have different roles to play in the entire  AR management process  and therefore need access to different things, different information and, of course, different set of analytics.  Accounts Receivable Automation  Solutions, such as Inebura, gives you the option to add multiple users with completely different access so as to make the process more efficient and productive. It also gives you the option to customize the information that can be accessed at these user levels. In this blog, we will explore what Inebura can  deliver to different users FOR CFOs: CFOs do not need to get into detailed analytics – all they need are insightful data points that are unbiased and help them manage their cash flows m

To maintain financial health, B2B startups need AR management tools to automate collections, monitor receivables, and reduce manual errors. These tools are vital for keeping cash flow steady and improving overall financial efficiency. B2B Collections: So, what's it all about? Let’s solve this conundrum today. The process of collecting unpaid invoices from businesses or firms that owe money to another business is known as business-to-business (B2B) collections. This keeps companies' finances stable and guarantees that unpaid invoices are promptly collected. So how you strive to Improve Your B2B Accounts Receivable Process? Improving your B2B collections process is essential for maintaining a healthy cash flow and ensuring timely payments from your clients. Here are a few steps you can take to enhance your collections process: Provide explicit payment terms:  From the start of the business relationship, make sure your clients are aware of your payment terms. This includes statin

B2B startups rely on AR management solutions to maintain financial stability. By automating payment tracking and reducing delays, these tools ensure smooth cash flow, helping startups achieve success in their early stages of growth. In this age when India has become the hot bed of startups and with such a thriving eco-system to support the startups, it is still pertinent to remember that 80-90% of startups fail, as per a report by IBM. According to the Startup India program, around 27,000 startups registered under the program till 2020 and almost all the reasons why Indian businesses fail early, are connected to innovation and leadership: inadequate business models, bad planning, flawed consumer insights, or a lack of unique ideas. If we specifically look at the B2B space, the traditional B2B supply model is built on credit. Companies that ventured into non-secured credit and without any credit rating policy dictating the credit line failed as well as companies who didn’t manage their

Compliance is a key factor in ensuring that accounts receivable management is both effective and sustainable. By adhering to regulatory standards and internal controls, businesses can avoid the pitfalls of non-compliance, such as fines, legal disputes, and damaged reputations. In addition, a strong compliance framework helps streamline accounts receivable processes, leading to faster collections and improved financial outcomes. To make sure that all the nodes in the  Account Receivable  life cycle are done in accordance with recognized standards, compliance is used. Compliance establishes a norm to prevent fraud, dishonesty, and misconduct. To ensure compliance, one must abide by internal corporate policy and also the law. It regulates all processes and transactions. This blog will discuss the  importance of compliance action , compliance standards, how it affects businesses, and the best ways to achieve compliance. TWO METHODS TO ACHIEVE COMPLIANCE: Establishing a standard Making sure

In today's fast-paced business environment, inefficiencies in accounts receivable can significantly impact a company's cash flow and overall financial health. Cutting-edge automation technologies offer a transformative solution by streamlining processes, reducing manual errors, and accelerating collections. By integrating automation into accounts receivable management, businesses can eliminate bottlenecks, enhance accuracy, and ensure timely payments, thereby boosting operational efficiency and profitability. Operational inefficiencies in Accounts Receivables Management hinders a business’ cash flow and overall financial stability. Here’s a look at some top  AR Inefficiencies , or should we say ‘Pain Points’ of the  AR Management Process  that can be easily taken care of by implementing  AR Automation . GETTING PAID ON-TIME – ISN’T THAT THE ULTIMATE GOAL At the cost of affecting your business’ bottom line, delay in payment, in fact, provides your customers with free fina

  AR automation revolutionizes financial processes by leveraging advanced software to streamline accounts receivable tasks, reducing manual errors and improving cash flow management. This technology enhances efficiency, enabling businesses to focus on strategic growth. On the other hand, DNA phenotyping is a cutting-edge field in genetics that predicts an individual's physical appearance and ancestry based on their genetic code. Used in forensics, it aids in criminal investigations by providing visual clues about unidentified suspects. Both AR automation and DNA phenotyping exemplify the transformative power of technology in their respective fields, driving advancements and innovation. DNA phenotyping is a process that uses genetic information to predict physical characteristics of an individual. Scientists identify specific genes or regions in the genome associated with specific physical traits. For example, certain variants of the MC1R gene are linked to red hair, while varia

This article delves into the reasons behind business procrastination in adopting new technologies and processes. It examines common factors such as fear of change, budget constraints, lack of expertise, and concerns about implementation disruptions. The piece also explores how organizational culture, risk aversion, and the comfort of familiar routines contribute to the hesitation. By understanding these barriers, businesses can better address and overcome them, paving the way for growth and innovation. 1. IMMINENT CHANGE IN THE PROCESS WILL DERAIL MY BUSINESS-AS-USUAL ASPECTS: You're entirely correct if you think that automating your procedure for managing accounts receivable will significantly alter your company, but that’s no reason to be worried! The difficult part was to realize that a change is necessary. It's true that switching from a manual to an automated process would alter everything, but not in the way you might assume. The actual stages and processes will stay pre

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. 3.  Your Ar

  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 PROCESS OF ACCO