Posted By Ash Conversions International
Most organizations understand the value of implementing an accounts receivable automation workflow solution. It increases the accuracy of an organization’s entire accounting process – reducing or even eliminating the risk of human error.
Collection departments are under pressure to reconcile accounts and receive monies in order to pay suppliers and employees. An AR automation workflow system would reduce the burden placed on this department.
Industries are slow to ditch the manual processes in favour of an automated solution for the following hesitations (not facts):
For decades, accounts receivable departments have been reconciling accounts by hand. Switching to a digital workflow can be fearful because it’s a big change. However, the only process that is changing is the manual work associated with accounts receivable. An automated accounts receivable workflow solution replaces the manual work associated with handling invoices and cash receipts by eliminating hardcopy handling and storage, by automating data capture and ensuring documents are organized to reduce human error and misplaced paperwork. By reducing the manual labour, your employees in the accounts receivable department can spend more time – on more valuable tasks – and get more done – overall!
Loss of Control
There is a common misconception that by implementing an automated AR workflow solution, the department will give up control over how the process is handled. At Ash Conversions, we can honestly tell you that isn’t the case at all. Whatever rules are currently in place manually would simply be automated. In fact – with automation, you can even implement rules that you may not be using in your manual process currently – to streamline processes even further. With AR Assistant™, payment receipts are automatically captured once they arrive at ACI. You will have constant visibility of your receipts, which allows for payments to be applied to invoices quickly and in an efficient manner. AR Assistant™ improves your accounts receivable workflow, positively impacting your bottom line.
Efficiency & Accuracy
Accounts receivable automation does not have to replace human involvement; rather, it exists to make employees feel more efficient and productive in their daily tasks. By eliminating the need for tedious tasks, employees can work better and faster, while ensuring your accounts receivable process is still intact and working efficiently without error. Employees feel better when processes run better – with fewer errors!
Most organizations are afraid to automate accounts receivable because they are unsure of what the direct benefits are – and what the results might be. With each new transaction, AR Assistant™ improves its understanding of your organization’s payment structure and behaviour. It becomes an intelligent system that provides a no-touch cash application. Your resources can be redirected as necessary, which improves your bottom line.
Your business will thrive with the time, money and energy saved as a result of an AR automation workflow solution. Contact the team at Ash Conversions to learn more about how our platform works, see a demo – and learn how an automated AR solution can be implemented in your organization with very little effort.