CFOs face growing pressure to increase the speed, efficiency and profitability of the accounts receivable (AR) function. While AR has generally been viewed as the “billing and cash collection” center, the department has steadily become more expensive and time-consuming to operate because of demands from customers — specifically from their customers’ accounts payable (AP) departments — that result in more manual work.
How can senior finance leaders respond to the demands of performing more manual AR tasks with a finite staff? Unfortunately, customers are generally in the driver’s seat, especially in the case of commodity items that can be purchased from a host of vendors. But it’s a hassle for customers to find new suppliers — or at least good ones — so CFOs need to ensure the costs associated with the extra work accommodating customer requirements and processes stay low.
Download this white paper to learn how to address some of the challenges that AR departments are facing and how automation can help to reduce the workload and processing costs throughout the total process.