Accounts Receivable Invoice Automation Software
Automating your accounts receivable operation allows you to gain better insight into your financial health. Paper-based processes that require manual workflows create delays and extra costs for businesses — all of which you can avoid with accounts receivable automation solutions.
What Is Accounts Receivable Automation Software?
Accounts receivable automation software overhauls your accounts receivable department’s manual processes and makes allocating and reconciling cash in your enterprise resource planning (ERP) solution a quicker, more efficient process. Accounts receivable automation software reduces manual payment allocation, improves cash flow projections, and helps you allocate cash more quickly. The software automates matching remittance advice information with invoices and helps your team more efficiently reconcile them in your ERP, which improves visibility into your bottom line.
Accounts receivable automation software provides the following functionalities:
- Captures orders, remittances, and checks while extracting and validating data
- Centralizes accounts receivable document storage
- Checks data used to create an image cash letter (ICL) for automated deposit
- Seamlessly transfers order and payment data to your ERP and makes documents instantly accessible directly from the ERP
- Makes documents and related content accessible to users
- Captures customer purchase orders and automatically extracts and validates order information before sending it to your workflow and ERP systems
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Benefits of Accounts Receivable Automation
AR Automation Software and Document Delivery
Many organizations today still struggle to find documents quickly because their files exist in different tools, and limited index fields for search make retrieval inefficient. All Star’s accounts receivable automation software allows you to retrieve documents from a central place while enhancing what you can do once you find them.
Use AR automation software to:
- Increase process visibility by instantly viewing AR user workloads and giving managers better insight into balancing the work
- Improve customer service by resolving disputes faster with instant access to documents such as invoices, orders, and daily reports
- Speed up payment processing
- Leverage credit memo processing that enables you to correct errors made in invoices already sent to customers
- Employ Full-Text Indexing to search for documents based on any word in the document across all document types — for any data
- Automate the delivery of documents and reports based on business rules
- Immediately receive notifications for workflow or document edits
- Retrieve daily reports in seconds based on the criteria or content you specify
- Reproduce and deliver documents instantly
Blog
The Top Three Reasons You Should Invest in Accounts Receivable Automation
Gaining visibility and control of your cash flow is an essential component of successfully managing the financial aspects of your business. You cannot plan for any growth without a reliable invoicing system and a way to track payments. Accounts receivable efficiency is vital in this regard. Your accounts receivable department is arguably one that cannot […]