How Your Team is Impacted by Accounts Receivable Software: C-Suite

Usually the assumption is that accounts receivable software is only truly beneficial to the accounts receivable department. The end users, like collections representatives and credit managers, are the ones that are able to automate most of their tasks and actually save time. While all this is true, they aren’t the only ones that get something out of the accounts receivable software. The whole business is affected by the automated processes, reports and valuable information that comes out of the software.

In this blog series we’re going to take a look at everyone in the business that is affected by accounts receivable software, starting now with the C-Suite.
In order to make strategic business decisions, you need to have transparency throughout every department. When accounts receivable and cash flow information is hidden throughout disparate systems, a spreadsheet here, an ERP report here, a report pulled from CRM there, the process could take hours. After all the work is complete, you’ll realize not all the data was in real time which could affect the decision you’re making. Accounts receivable software contains real-time reports and insights into information like DSO, key performance indicators, weekly expected cash, etc. This allows you to do your job quickly and make better, more informed decisions.
You’ve got your hands deep in every bit of numbers that the company is producing, from taxes to accounts payable, budgets and accounts receivable. You need to know, easily, what is going on in each department. When using accounts receivable software you will know what your team is getting done and how it is getting done. You can set up emails that send critical alerts when an invoice dispute is spinning out of control, allowing you to make a final decision. You can also receive reports via email and check on the department’s progress.
Accounts receivable software has an impact all the way from the bottom, up. It’s not just the end users who see a lightening of their load once automation is implemented. The CEO and CFO also are spending less time searching for the information they need and more time making decisions and taking action. In the next post, we’re going to look at how accounts receivable software affects credit and collections, from the credit manager to the collection representative themselves.

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