Benefits of AR automation for Different Stakeholders

How Does AR Automation Help Different Stakeholders?

What you’ll learn

  • Advantages of AR automation for different stakeholders to focus on high-value tasks
  • Benefits of AR automation to improve day-to-day efficiency

Accounts receivable (AR) is the basis for ensuring healthy cash flow and a good customer experience. But manual AR takes up a lot of resources. What is the solution? Accounts receivable automation! Automating AR helps your finance team focus more on high-value tasks such as communicating with clients and building a collections strategy. Let’s take a look at how AR automation benefits different stakeholders, along with its general advantages. AR automation for stakeholders General benefits of AR automation:  1) It saves time: Automated AR applications save considerable time otherwise spent on spreadsheets and paper-based workflows. 2) Easy plug and play: AR applications can plug and play into the existing ERP system to improve the efficiency of day-to-day operational tasks. 3) Automation is on the rise: MarketWatch predicts that AR automation will register a CAGR of approximately 12.69% during 2020-2025. 4) Reporting gets easy: AR automation apps are built with intuitive reporting features, and easy alert options to help with smooth tracking of past-due invoices. 5) Assess credit risks before onboarding customers: An AR application makes credit risk management, calculation of credit scores, and automated dunning easy. 6) Focus on better team efficiency:  Prioritize tasks and take suggested actions based on the pre-curated worklist generated within the AR application.
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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.

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