The arrival of newer technology is always followed by a process reinvention which results in the up-gradation of the process by the elimination of its shortcomings, improvement in the process outcomes and a redefining of the roles and responsibilities of all the participants in this process.
As RPA and AI bring about a sweeping change across the finance functions including Accounts Receivable, we take an unbiased look at the promise which these new technologies hold for the collections process in terms of productivity gains, better customer understanding, improving collections and reducing past due invoices.
With the onset with AI-enabled automation and integrated receivables solutions, collections specialists can rest assured their regular workday in 2020 would be radically different from the current daily routine. Enhanced business analytics and reporting, dynamic collections rules/strategies and proactive customer correspondence are just a few state-of-the-art features to name in the future collections.
Join this webinar where Carolyn Etress. Director of Accounts Receivables from EBSCO would share her views on how A Day in The Life of a Collection Analyst Might Look in The Year 2020.
HighRadius Collections Software automates and optimizes the credit & collections management process to improve collector efficiency, minimize bad debt write-offs, improve customer relationships, and reduce DSO. It provides a complete set of tools to optimize and automate the credit collections management process and enable the better prioritization of credit collections activities All the information you need (invoices, dispute information, POD, claims, tracking info, etc.) on each case is automatically presented in a collections work-space and is ready for use. Apart from the wide variety of benefits that it has, it also comes with some amazing features like CADE (Collection Agency Data Exchange), collector’s dashboard which has prioritized collections worklist, automated dunning & correspondence, dispute management, centralized tracking of notes, call logs & payment commitments along with cash forecasting functionalities. The result is a more efficient collections team that contributes to enhanced cash flow and reduced DSO.