Automation. It’s the Holy Grail of goals for many treasury management and corporate finance professionals. Companies invest millions of dollars annually looking for the technology and services that will transform their payment processing from cumbersome and paper-based to sleek, efficient and electronic.
Too often, they’re disappointed. In reality, the accounts receivable (AR) process is complicated. Keeping dollars and data connected is challenging. Much of the technology is misunderstood or oversold. But, one of the biggest factors holding corporations back is their overall approach to receivables.
Instead of examining the entire order-to-cash lifecycle, from customer billing to cash application, businesses take a piecemeal approach. At most companies, every step in the process is ripe for improvement. When viewed end-to-end true transformation is possible.
Every step makes small, incremental improvements—but there’s little cohesion across the entire accounts receivable cycle. As a result, disappointment sets in and projects languish. Gaps appear. Workarounds persist. The true opportunity for AR automation, efficiency and straight-through processing remains elusive.
Solving that problem is why we’re taking an in-depth, under-the-hood look at accounts receivable management and automation in this guide, with an emphasis on separating the myths from the facts. We’ll examine real-world challenges in receivables processing, show how to solve them and explain why taking a big picture, single-platform approach is the right decision for true AR transformation. Download the eBook to learn more about:
