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7 Ways Electronic Invoicing and Online Payment Processing Accelerate Cash Flow for the Hospitality Industry

Sponsored By Direct Insite

Topics:
Accounting
Budgeting & Planning
Technology

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Abstract:
In spite of corporate efforts over the past few years to wring inefficiencies out of back-office processes, invoice-to-cash processing remains a costly proposition for most organizations. The challenge is especially tough in the hospitality industry, where companies must deal with high volumes of multi-page paper invoices with a requirement to attach backup documents such as receipts. Most AR departments in the hospitality industry also face a dizzying number of customer inquiries, a lot of partial- and short-paid invoices that require research and resolution, and many disputed invoices. Against this backdrop, it's not surprising that the industry is plagued by high Days Sales Outstanding (DSO), overdue invoices, and manual payment posting and cash application.
DETAILS
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Released: February 29, 2012
Length: 2 pages
Format: PDF (538 kb)
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