AR process evaluation
Get a score for your invoice-to-cash process!
Provide a few details about your current process, and you'll receive a score based on the latest best practice standards.
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Invoice Digitalization
How many of your invoices are sent electronically?
Invoice digitalization can significantly enhance your company's operations. Electronic invoices reduce paperwork and accelerate the billing process, improving cash flow management. They are easier to track and archive, and electronic processing reduces the risk of errors compared to traditional paper invoices. Additionally, electronic invoices often better comply with national and international regulations, reducing compliance risks.
Accounts Receivable Automation
How well are your accounts receivable processes automated?
Accounts receivable automation includes processes such as reconciliations, reminders, postings, and collections. A high level of automation reduces the amount of manual work, which in turn decreases the risk of errors and improves efficiency. Automated systems can automatically send reminders for overdue payments and record payments in real time, freeing up employees' time to focus on value-adding tasks.
Visibility and Simplicity
How clear and visible is your accounts receivable process?
Good visibility into accounts receivable processes means that you can monitor and manage all stages in real time. This enables faster and better decision-making, as all necessary information is easily accessible. Clear and simple processes improve work efficiency and reduce the risk of errors. When the accounts receivable process is easy to understand and manage, you can respond more quickly to potential issues.
Integrations
How well does your accounts receivable system integrate with other systems you use?
Well-integrated systems allow for smooth data transfer between departments and software, reducing manual data entry and related errors, saving time and money. Integrations also improve the overall efficiency of your business operations, as data flows seamlessly and in real time between systems. This allows you to optimally leverage existing data and systems, enhancing business flexibility and responsiveness.