Artificial intelligence took the world by storm in 2023, but has it lived up to the hype?
For AR teams, the answer is a resounding, “Yes!”
Our latest eBook provides a comprehensive insight into how AI is impacting accounts receivable, including:
- How predictive analytics takes your AR work from reactive to proactive.
- Using AI to enhance customer communications and accelerate collections.
- Why you need a “digital assistant” to simplify dispute resolution.
- How AI analysis removes guesswork in cash application.
- A case study of a business that ditched manual work and improved employee satisfaction using AI.
Introduction
The past few years have forced finance teams to become resourceful, embracing every opportunity available to them. Between supply chain challenges, the looming threat of recession, inflation, and staff shortages, accounts receivable teams are working overtime to keep cash flowing.
These economic pressures have impacted business’ ability to make timely payments, resulting in 55% of all B2B invoiced sales becoming overdue. At the same time, bad debts currently affect an average of 9% of all credit-based B2B sales. Unfortunately, most experts believe that these cash flow complications will continue, and potentially worsen.
These challenges have coincided with the explosive rise of artificial intelligence. According to Forbes, the AI market is expected to reach £322 billion by 2027, while a Deloitte study found that 61% of people expect artificial intelligence to substantially transform their industry in the next 3-5 years.
Get your AI guide today!
