Embracing automation in your accounts receivable (AR) management process will significantly transform your company for the better with increase in productivity by around 35% (as per certain studies). The game-changer is that automation will handle repetitive and manual tasks, freeing you from endless hours spent on creating & analysing spreadsheets, making data entries, relying on outdated reports, searching old emails, and sifting through multiple systems. With AR automation, you can focus on strategic decisions that directly enhance your cash flow
Why and the how AR automation can positively impact a business:
1. AR Automation Tools Are User-friendly, if you choose wisely:
Modern AR tools like Inebura are designed to be user-friendly and seamlessly integrate with your existing systems. Inebura is a cutting-edge, API-ready, SFTP-ready platform with multiple dashboards, customizable templates, email-integrated dispute trackers, customer screens, and one-click bulk invoice reconciliation. Developed by leveraging extensive AR servicing expertise, Inebura is easy to use and adaptable to your business needs. Imagine completing all tasks related to a customer on a single screen, from correspondence to financial data review, enhancing efficiency and reducing manual effort.
2. AR Automation saves cost (in just a few months) after you start using it:
Investing in AR automation is a strategic move to manage working capital While there is an initial investment, AR automation systems like Inebura are surprisingly affordable. These systems offer substantial cost savings:
- Lower Financing Costs: Receive payments up to 25% faster.
- Reduced Bad Debt Write-Offs: Early detection and resolution of disputes minimize bad debt.
- Decreased Staffing Costs: Automation reduces the need for additional hires, allowing your current team to achieve more.
- Operational Savings: Eliminate printing and mailing costs with online customer interfaces, email statements, and electronic invoicing.
By improving cash flow, expanding your business, and gaining control over your accounts receivable, AR automation becomes a valuable investment.
3. High Adoption Rates Among Users and Customers:
As we as human race become more and more technology savvy and technology enabled, it is but just a matter of time that AR automation adoption rates have shot up exponentially amongst users. Once the users understood the purpose and benefits of the new system—how it simplifies their work, gives better insights and enhances their productivity, they embraced it.
Customers also appreciate automation for its convenience. Automated email reminders help them keep track of payments, enhancing their satisfaction and ensuring timely payments.
Epilogue:
Automation isn't just a technological upgrade; it's a strategic leap towards a more efficient, productive, and scalable future. By embracing accounts receivable automation, you are positioning your company to stay ahead in an ever-evolving business landscape.
Imagine a future where your team can focus on high-impact tasks instead of getting bogged down by routine processes. Picture the ease of knowing your cash flow is more predictable, your customer interactions are streamlined, and your overall financial health is improved. This isn't just about keeping up with change; it's about leading it!
Every great advancement starts with a single step forward. Automating your AR process is that step, propelling your business towards new heights of efficiency and success. Trust in the potential of technology, and let it empower your business to achieve its full potential. The future of your accounts receivable is not just automated—it's brighter, smarter, and more prosperous.
To know more, write to sandeep@inebura.com