HOW DOES AN AR AUTOMATION PLATFORM LIKE INEBURA, HELP IN ENSURING EFFICIENCY, PRIORITIZATION OF TASKS & REDUCING COSTS!

Adding layers of "to-do" tasks or actions to an AR Automation Platform such as Inebura, can help ensure efficiency, prioritization tasks, and most importantly reduce costs. Here's how you can integrate these actionable layers:

1. Reduced Manual Labor

To Dos:

• Setting Up of Automation Rules: Inebura can be configured to ingest data for automatic data entry and posting
• Automate Invoice Scheduling: Use automated tools to schedule recurring invoices and follow-ups, reducing manual intervention with documents that can be configured at a customer level
• Monitor and Adjust Automation Settings: You need to just review the settings and performance of automated tasks once in a while to ensure they are running optimally and make adjustments to improve efficiency.
• Cost Reduction Impact: Reducing manual checks, refining automation settings, and proactive scheduling ensures fewer errors and lower labour costs.

2. Lower Error Rates

To Dos:

• Inbuilt Data Validation Checks: Inebura already has automated checks to validate data before they are ingested into the system or for that matter if invoices are sent out (e.g., matching purchase orders and contract details with invoices).
• Periodic Review of Automation Logs: Inebura allows you to review logs for any discrepancies caught by the system, ensuring issues are corrected before they become larger problems.
• Integrating Machine Learning for Pattern Recognition: Inebura uses machine learning to recognize patterns of errors and suggest corrections or improvements over time.
• Cost Reduction Impact: Inbuilt validation and automated pattern recognition can significantly cut down on costly mistakes and minimize disputes, saving time and money.

3. Faster Payment Cycles

To Dos:

• Automate Reminders and Follow-up Workflows: Inebura already has pre-configured as well as customisable automated reminders that escalate depending on the payment status (e.g., friendly reminders, late payment notices, final reminders).
• Implement Auto Payment Options: Inebura provides customers with the option to set up autopayments for recurring invoices, speeding up the payment process in its self-serve platform.
• Cost Reduction Impact: Automated workflows reduce the time staff spends on follow-ups and help speed up cash inflows, decreasing borrowing costs and improving cash flow management.

4. Decreased Paper and Mailing Costs

To Dos:

• Electronic Payments and Invoicing: Inebura helps in setting up of default digital invoicing option for all clients and encourage users to switch to electronic payment methods.
• Bulk Invoice Processing: Inebura helps to automate bulk processing of invoices for customers who need multiple invoices, reducing the need for manual handling.
• Creation of Digital Archives for Easy Access: Inebura establishes a digital archive of invoices and payment receipts that is easy to search, ensuring quick retrieval when needed without physical storage.
• Cost Reduction Impact: Moving to a paperless system and improving digital storage and retrieval save on printing, postage, and storage costs.

5. Enhanced Compliance and Reporting

To Dos:

• Implementation of EWS: Inebura helps in Creating alerts for any compliance related issues arise, allowing for quick resolution before they become costly problems.
• Cost Reduction Impact: Proactively addressing compliance through automated checks reduces the risk of fines, penalties, and lengthy audits, saving time and money.

6. Better Customer Experience

To Dos:

• Automated Dispute Resolution Workflow: Inebura has a very intuitive dispute resolution workflow that guides the team and various stakeholders through the resolution of any disputes, ensuring they are handled quickly and efficiently. This could include automated suggestions for resolving disputes based on past cases.
• Customer Self-service Portal: Inebura provides customers with a portal where they can view invoices, make payments, set up autopay, and access support. This minimizes the need for direct customer support.
• Cost Reduction Impact: Automated dispute resolution and a self-service portal reduce the time and cost associated with handling customer inquiries, and improved customer satisfaction leads to faster payments and fewer disputes.

GENERAL TO DOS FOR CONTINUOUS IMPROVEMENT:

• Routine System Health Checks: Inebura has a dedicated team of professions who ensure routine checks to ensure that the system is running smoothly and address any identified inefficiencies.
• Data Analytics for Cost Optimization: Inebura gives you huge data analytics to identify patterns that lead to delays or higher costs and refine processes accordingly.
• Training of Staff on Inebura: The Inebura team ensures that the users understand how to use and optimize Inebura.

To know more and to see how Inebura can help, write to sandeep@inebura.com