Accelerate Accounts Receivable Efficiency in SAP and Reduce Days Sales Outstanding
How much time is your accounts receivable department spending manually allocating and reconciling cash to SAP? High amounts of unallocated cash and open items make it difficult to close month-end financial documents, require too much staff time for resolution and can impact customer satisfaction.
The need to reduce days sales outstanding (DSO) and overall costs of receivables processing is driving companies to improve billing and payment processing systems. And they’re finding that automatically matching remittance advice information with invoices and reconciling them in SAP can have a significant positive impact on the bottom line.
In fact, Aberdeen Group reports that automated matching of incoming payments to invoices when payment is received by AR helps to differentiate the best-in-class from their lower-performing peers. By reducing manual payment allocation, eliminating bank fees, allocating cash more quickly and improving visibility, accounts receivable departments operate more efficiently and cost-effectively, while providing customers the level of service they’re looking for.
Increase Data and Processing Accuracy
ReadSoft Process Director™ reduces error-prone manual work and increases process visibility and control by automating data capture, cash application and exception handling in SAP.
Get Paid Faster and More Efficiently
Operate accounts receivable cost-effectively by decreasing the amount of unallocated payments and open items, eliminating data entry or bank fees, and decreasing days sales outstanding (DSO).
Improve Customer Satisfaction
With fewer manual processes, staff members are free to provide the level of service your customers are looking for, elevating your company’s reputation and improving its odds of securing repeat business.
Access Timely, Correct Data at All Times
With access to accurate, up-to-date metrics via integrated analytics and a complete audit trail, accounts receivable departments can make continuous performance improvements and have complete confidence in the integrity of their records.