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SSON Report:
Automating Accounts Receivable

How does this ebook help me?
This report discusses how shared services organizations are well placed to take advantage of A/R automation to proactively optimize their order-to-cash process and contribute to increasing liquidity by preventing existing capital from going to waste.
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Key Takeaways

Understand the direct consequences of ineffective A/R management
The 5 roadblocks that adversely impact A/R processes
Know how real-time data integration helps A/R drive strategic value
The 6 leading benefits of A/R automation

Table of Contents

THE CRITICAL ROLE of accounts receivable
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5 Factors that can Derail Efficient Accounts Receivable Practices
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Shared Services Addresses Inconsistencies
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The Future is in Automation & Data
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Transformation in Practice
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Cash is Still King - Now More than Ever
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Chapter 01

THE CRITICAL ROLE of accounts receivable

AR is made up of numerous elements that are integral to its performance. The systems, processes and professionals dedicated to AR ensure that payments are collected on time, every time, and without mistake.

At a high level, AR is critical because it controls cash flow. Optimising AR ensures that sales translate seamlessly into collections – considering the current climate.

So it’s all the more surprising that accounts receivable is still relegated to the “back office.” Poor AR practices not only suck productivity from a business, but also produce a ripple effect that touches many aspects of an enterprise.

Direct consequences of poor AR management include:

  • Missed payments: Enterprise customers forget or neglect to pay their bills, and the lack of a reliable accounts receivable process in place means the gaps in incoming revenue are overlooked.
  • Unsent invoices: An accounting system allows invoices to be automated, but the process needs to be audited regularly to ensure these are sent out on time, based on your agreements/contracts.
  • And of course… Lack of cash flow: What would happen if you found yourself unable to pay your overhead, meet payroll, or take advantage of a business opportunity when it presents itself? These are all critical consequences of failing to manage accounts receivable.

Any one of these missteps can cause far-reaching issues for even successful and profitable businesses, so implementing a stringent and reliable methodology is key.

End-To-End Order to Cash Process

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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.