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AR Automation Software

AR Automation Software is non-intrusive and extends the basic functionality of the systems already in place. With AR Automation too, the three basic tenets of Accounts Receivable, viz: Invoicing, Collecting Payment and Reconciling the two to ensure that the information matches remain in place.

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AR Automation Software

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  1. WHAT IS AR AUTOMATION SOFTWARE? • Accounts Receivable Management, in simple words, is the practice of obtaining monies from clients/ customers for products/ services within a given period of time. Organizations use AR Management to ensure that every step involved in the payment collection process is properly tracked and managed. The process is a vital component of building liquidity and profitability and avoiding bad debts – and it involves many more things than simply receiving payments on invoices. • A powerful and efficient AR Management Process can, in fact, make the difference between dwindling capital and a successful business. It helps companies maintain a healthy cash flow, and is paramount for any company’s long-term success.

  2. However, the CURRENT MANUAL & PAPER-BASED PROCESSES LIE AT THE CORE OF ACCOUNTS RECEIVABLES INEFFICIENCIES: • Paper-based processes slow down the whole invoice-to-cash cycle –essential tasks, such as generation of invoices, starting dunning campaigns, reconciling accounts etc. take a lot of time and the help of multiple teams. • Manual & paper-based invoicing process results in a lot of extra work and introduces many points of failure that can naturally lead to collection delays. • Manual processes do not give AR Teams the complete picture of the status of open receivables and their cash flow across the order-to-cash cycle. • Read more at: AR Automation Software

  3. AR AUTOMATION SOFTWARE: A SIMPLE WAY TO TRANSFORM YOUR AR MANAGEMENT PROCESS AR Automation Software is non-intrusive and extends the basic functionality of the systems already in place. With AR Automation too, the three basic tenets of Accounts Receivable, viz: Invoicing, Collecting Payment and Reconciling the two to ensure that the information matches remain in place. AR Automation makes it easier to generate invoices on time in a customizable format that meets the customers’ accounts payable requirements. It decreases the number of times AR Teams need to input key data points, such as information that needs to be part of the invoices, payment terms & conditions, any details that are unique to the customers etc. Once that data gets entered into the system, you can follow the customer’s account through the entire span of the payment process. The software tracks different payment types, matches the invoice to the sales order and monitors aspects of collections that might result in delayed payments. The information in the customer databases, not only provides a company with real-time reporting on the status of invoices and payments, but also allows the company to send out automated communications such as dunning emails to customers. Original Source: https://inebura.com

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