Accounts receivable (AR) is the basis for ensuring healthy cash flow and a good customer experience. But manual AR takes up a lot of resources. What is the solution? Accounts receivable automation!
Automating AR helps your finance team focus more on high-value tasks such as communicating with clients and building a collections strategy. Let’s take a look at how AR automation benefits different stakeholders, along with its general advantages.
General benefits of AR automation:
1) It saves time: Automated AR applications save considerable time otherwise spent on spreadsheets and paper-based workflows.
2) Easy plug and play: AR applications can plug and play into the existing ERP system to improve the efficiency of day-to-day operational tasks.
3) Automation is on the rise: MarketWatch predicts that AR automation will register a CAGR of approximately 12.69% during 2020-2025.
4) Reporting gets easy: AR automation apps are built with intuitive reporting features, and easy alert options to help with smooth tracking of past-due invoices.
5) Assess credit risks before onboarding customers: An AR application makes credit risk management, calculation of credit scores, and automated dunning easy.
6) Focus on better team efficiency: Prioritize tasks and take suggested actions based on the pre-curated worklist generated within the AR application.
Positioned highest for Ability to Execute and furthest for Completeness of Vision for the third year in a row. Gartner says, “Leaders execute well against their current vision and are well positioned for tomorrow”
Explore why HighRadius has been a Digital World Class Vendor for order-to-cash automation software – two years in a row.
For the second consecutive year, HighRadius stands out as an IDC MarketScape Leader for AR Automation Software, serving both large and midsized businesses. The IDC report highlights HighRadius’ integration of machine learning across its AR products, enhancing payment matching, credit management, and cash forecasting capabilities.
In the AR Invoice Automation Landscape Report, Q1 2023, Forrester acknowledges HighRadius’ significant contribution to the industry, particularly for large enterprises in North America and EMEA, reinforcing its position as the sole vendor that comprehensively meets the complex needs of this segment.
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We have seen financial services costs decline by $2.5M while the volume, quality, and productivity increase.
Colleen Zdrojewski
Trusted By 800+ Global Businesses
HighRadius Corporation
2107 CityWest Blvd,
Suite 1100,
Houston, TX 77042
