Automating Accounts Receivable & Cash Remittance Can Have Significant Impact – Both on Overhead, and on Bottom Line!
Businesses need to be able to have a clear and concise understanding of what is happening financially at all times. Accounts Receivables plays a large role in painting this picture. But if you are still stuck using legacy models for handling your AR – typically paper-based, old-fashioned early-generation systems that are complicated – you are leaving the door open to human error and inaccuracy.
With bottom lines becoming more sensitive than ever before, for-profit businesses are starting to place more and more emphasis on the retention of revenue. This has led collections teams into increased pressure to be on top of things like lost or late payments, Days Sales Outstanding (DSO), reconciliation, dispute management and receipt of cash. To help alleviate this pressure – companies are beginning to leverage advances in technology to gain process efficiencies, increase working capital and strengthen customer relationships. Yet studies show that even with these technology advances – a significant number of North American companies continue to process their receivables in-house – in many cases using manual processes. The majority are frustrated with these archaic systems – but have yet to take advantage of available platforms – in many cases due to barriers to entry; like cost and integration.
Technologically Advanced, Easy to Use Accounts Receivable Automation
Ash Conversions has answered the call and taken up the task of creating a platform that levels the playing field, leveraging these tech advances – but in a way that makes them much more cost-effective and easy to use. This makes it possible to now cut AR remittance processing costs by up to 80% – while reducing DSO by as much as an entire week!
ACI’s AR Assistant™ – Cloud-Based AR Automation Solution for Remittance Processing is an outsourced AR solution designed to reconcile cash receipts against outstanding receivables, allowing you to accelerate efficiency and reduce DSO. No longer does your accounts receivable department need to spend inordinate amounts of time allocating and reconciling cash to your accounting platform. And because it’s “in the cloud” – there is no technology to install – or monthly licenses to pay for!
Gone are the days of difficult and time consuming attempts to resolve and close month-end financial statements due to large volumes of open items and unallocated cash – ending with a negative effect on customer satisfaction. Now any organization of any size can both streamline their processes – and enjoy reduced costs! By automating their manual processes of matching remittance advice information with invoices and reconciling them in the organization’s receivables system – organizations that take advantage of ACI’s new cloud-based AR platform will see a notably positive impact on their bottom line. Reducing manual payment allocation, reducing or eliminating bank charges – and more quickly allocating cash and improving visibility are just some of the wonderful benefits of adopting ACI’s cloud-based AR Assistant™. We’ve made it so simple: payment receipts arrive at ACI and are automatically captured, delivering constant online visibility of all receipts in process. Those payments are immediately applied to invoices and quickly reconciled to the accounting system in an automated fashion, reducing DSO and month-end volume.
Automated Intelligence to Continuously Improve Your Accounts Receivable Department
Leveraging ACI’s proprietary ‘Automated Intelligence’ – AR Assistant™ continuously improves its understanding of payment structure and behaviour as it interacts with each new transaction, becoming intelligent enough to provide a no-touch cash application – as each new transaction is processed. This will allow for streamlining and even redeployment of resources – positively affecting the bottom line – as well as overall customer satisfaction.
But don’t take our word for it – let’s show you a demo and discover how your organization can get caught up – in the cloud – by leveraging the power of automation to get your AR department on the same playing field as the largest of companies out there – without the hefty outlay! Click the button below to request a demo.
