Simplify and Expedite Mail Through AR Automation

Most AR teams maintain a manual communications process. For each customer contact, they must go into the ERP to understand the status of the account, then the billing software to check on the most recent payments or payment plan for the account, and finally the CRM to access the customer’s contact information.

Only after accessing multiple systems, is the AR specialist ready to call the customer and work through the inquiry or discuss a payment due.

When we add the impact of COVID into the picture in 2020, the numbers are telling:

• Collectibility is down 38%
• Disputes have risen 20%
• Payment deferrals are up 22%
• Promise-to-pay is down 12%
• Payment in full is down 13%

With the impact of Covid-19 and the ongoing work-from-home policies in many regions, the use of cloud-based technologies and automation makes sense. Best in class AR teams leverage automation and machine learning to ensure they are maximizing the efficiency of the team while at the same time providing a stellar customer experience.

Learn more by downloading this complimentary white paper.