Best practices for accounts receivable automation
Companies that rely on manual processes to manage collections, spend only 20% of their time communicating with their customers about payment.
Too much time is spent manually gathering information and prioritizing actions.
By implementing tools and processes to automate and streamline account receivables workflows, companies can increase customer facing tasks by over 300%.
This infographic highlights five best practices for accounts aeceivable automation
- Define your business model
- Clarify your workflows
- Reconcile workflows
- Simplify Interaction
- Integrate with other business systems