There are many benefits found by those who use debt collection software to automate accounts receivable, one of the biggest though is the time savings it provides. There are a vast number of daily clerical duties that go into accounts receivable management; and while they are critical to the job, they are time-consuming, redundant, and open to human errors that cause payment delays and disputes.
Some of these daily activities include reviewing aging reports, updating spreadsheets, prioritizing contacts and putting together daily to-do lists, researching accounts to prepare for calls, taking notes, etc. all of the activities can be considered non-value added and are a drain on collector productivity and efficiency. With all of that to be done, there is little time left for what really matters- collecting invoices, dealing with disputes, and communicating with customers.
