Accounts receivable automation — or AR automation — automate manual accounts receivable processes with software to save time, reduce costs and prevent errors.
The transformation of cumbersome manual accounts receivable processes by automating and streamlining systems electronically reduces repetitive and time-consuming (and potentially error-prone) tasks.
By automating your entire accounts receivable process, from credit management to invoicing and reconciliation, you optimize every step which results in improved cash flow by bringing money into your organization faster.
Time is money; eradicating time-consuming manual AR processes produces immediate savings. Accounts receivable automation replaces costly processes including credit review, manual print and post, manual PDF-over-email invoicing, payments reconciliation, dispute handling, and collections. Leveraging AR automation improves AR and IT staff effectiveness and efficiency, increases productivity, and eliminates the cost associated with paper invoices.
Accounts receivable invoice automation greatly reduces the time it takes to process your paperwork and payments, freeing AR teams to get more done. Streamline customer enrollment from weeks to days by removing the wasted time spent e-mailing and uploading documents to customer invoicing portals. Automating your invoice distribution to follow delivery schedules and apply highly specific sending rules increases efficiency to improve your company’s bottom line.
By taking human error out of the loop, AR automation improves data consistency with real-time responsiveness while managing multiple customers and complex systems. Corcentric empowers stronger internal controls, improves quality, significantly reduces or eliminates errors such as duplicate payments, overpayments and fraudulent payments, and makes it easier to capture early payment discounts. Corcentric enables your business to contain costs, optimize cash flow, and mitigate risk.
Star’s accounts receivable automation solutions offer guaranteed and fixed DSO on all receivables, shaving days off DSO and eliminating delinquency. By replacing manual processes, you can eliminate late payments due to disputes and reduce bad debt.