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The finance module within an ERP can automate most basic finance functions, but needs specialized add-ons for critical processes like order-to-cash. The Accounts Receivables aspect within the order-to-cash system handles credit-risk management, payment processing, collections and dispute resolution and overall cash flow management.
Enhancing the capabilities of an ERP with an Accounts Receivable automation system can provide tangible financial benefits by enhancing team efficiency, improving customer experience, and strengthening the bottom line. The benefits of such automation can be manifold such as,
- Automating your Accounts Receivable will help remove 95% of repetitive tasks.
- Human errors account for 41% of all accounting errors, and 55% of firms are unable to detect tasks before doing them.
- More than 90% of firms experience late payments from clients due to lack of Accounts Receivable automation.
With AI-powered solutions, HighRadius provides an ERP agnostic Accounts Receivable solution for your organization to put O2C on autopilot. Find out more in this quick read.