Benefits of Accounts Receivable Management Software

Benefits of accounts receivable management software

 

There are many benefits to implementing accounts receivable management software  to extend existing accounts receivable functionality and processes. Some of these are reduced transaction costs, improved cash flow and cash forecasting, optimized staff productivity, and reductions in bad debt and write-offs. Companies who automate collections and nothing more are realizing:

• 10 to 20 percent reductions in daily sales outstanding (DSO)
• 25 percent reductions in past due receivables
• 15 to 25 percent reductions in bad debt reserves
• Return On Investment (ROI) in as little as 2 months and usually in no more than 6-9 months

(Source: Paystream Advisors)

Anytime Collect  accounts receivable management software is designed to help companies streamline their receivables management, credit and collections, and financial business processes. Most businesses struggle with account receivables management, from invoicing and billing through the entire receivable collection process. A accounts receivable management software product like Anytime Collect helps companies streamline their accounts receivables management processes by:

  • Centralizing accounts receivable information
  • Accounts payable, electronic funds transfer, automated order matching
  • General ledger, allocations, consolidations and eliminations
  • Cash management, bank reconciliation, and statement interfaces
  • Payroll, fixed asset, and tax management
  • Budgeting, forecasting, and planning
  • Improved Financial Transparency and Accountability

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