Accelerate dispute resolution with automated workflows to maintain customer relationships. Release cash from customers using next-generation intelligent automation. Optimize working capital by driving world-class invoice-to-cash processes and leveraging decision intelligence to drive better business outcomes. BlackLine is an SAP platinum partner and a part of your SAP financial mission control center.

Together with expanding roles, new expectations from stakeholders, and evolving regulatory requirements, these demands can place unsustainable strain on finance and accounting functions. F&A teams have embraced their expanding roles, but unprecedented demand for their time coupled with traditional manual processes make it difficult for F&A to execute effectively. Perform pre-consolidation, group-level analysis in real-time with efficient, end-to-end transparency and traceability. Reduce risk and save time by automating workflows to provide more timely insights.

What Is an Accounts Receivable Automation Flowchart?

Our all-in-one cash flow management & banking solution helps businesses scale quickly. « Our collections effectiveness has skyrocketed with Centime. Not only do we collect 92% of payments on time now, but when customers pay late, it is on average by just seven days. » Centime works exclusively with NetSuite, QuickBooks Desktop and QuickBooks Online. Our targeted focus means we deliver one of the deepest ERP integrations on the market for these accounting systems.

It should still give you the flexibility to keep high-value work as manual as you want or need it to be, during sensitive phases like the onboarding for example. Company culture is a serious factor in whether or not employees decide to stay with an employer. When you can add automation to your accounts receivable team, you demonstrate that you value their talents enough to free up their time to innovate and improve the business. Automation isn’t about replacing people; it’s about supporting them by shouldering the most boring yet vital parts of their jobs.

Tesorio’s powerful machine learning analyzes historic behaviors and creates per-customer predictive models—so you get a clearer picture of when payments are coming. Plus, if you have information outside of Tesorio’s reach, it’s easy to adjust the predicted dates in just a few clicks. Forget slow, messy processes like downloading AR aging reports, flipping through complicated spreadsheets and relying on vlookups. Tesorio unifies cash data from all your disparate systems—including your ERP—and aggregates it into a single, intuitive platform. The automation system transmits the invoice electronically to the correct customer without requiring a manual touch or edit.

• Working capital, cash flows, collections opportunities, and other critical metrics depend on timely and accurate processes.
• Instead of having to manually match the payment you received with the correct client invoice, you can rely on your AR tool to do it for you.
• ORGANIZED CONTROL– An automation solution for your accounts receivable system is configured the way your team needs it to be.
• By freeing up time that was previously spent on manual labor, businesses are then free to focus on more strategic initiatives to propel their growth.

To become an integral part of driving the business forward and influence other important business functions. Esker AnywhereTM allows salespeople to request a credit check or review their customer situation at a glance anytime, anywhere so that they can make the right decision for the business. Create workflow rules to secure your decisions and automate the approval process when necessary (credit reviews, deductions validation, etc), as per your credit policy.

Step 5: Select and connect payment options.

Understand which collection strategies work across your customer base with automated, escalating recovery sequences to reach customers at the right time and place. Reduce or eliminate manual tasks, allowing AR teams to focus on actions that drive results, and strengthen decision intelligence to deliver significant value to the organization. Whether you’re new to F&A or an experienced professional, sometimes you need a refresher on common finance and accounting terms and their definitions. BlackLine’s glossary provides descriptions for industry words and phrases, answers to frequently asked questions, and links to additional resources. Whether new to BlackLine or a longtime customer, we curate events to guide you along every step of your modern accounting journey.

How does accounts receivable automation work with ERP systems and electronic invoicing?

Corcentric enables your business to contain costs, optimize cash flow, and mitigate risk. The solution seamlessly integrates multiple financial systems and gathers all customer credit and collections data onto a consolidated system. It offers real-time access to comprehensive portfolio information to empower businesses make informed decisions. Focus your collections efforts on the most impactful invoices for your business and unlock an accurate view of your future cash flows with Centime’s accounts receivable automation software. We help your team preserve adequate liquidity and predict payment delays.

Evaluate Unified End-to-End Automation Platforms

To sustain timely performance of daily activities, banking and financial services organizations are turning to modern accounting and finance practices. Centralize, streamline, and automate end-to-end intercompany operations with global billing, payment, and automated reconciliation capabilities that provide speed and accuracy. Ignite staff efficiency and advance your business to more profitable growth. Standardize, accelerate, and centrally manage accounting processes – from month-end close tasks to PBC checklists – with hierarchical task lists, role-based workflows, and real-time dashboards. The big takeaway here is that accounts receivable automation exists to automate and simplify the processes that don’t necessarily need to be manual.

Your AR software should allow acceptance of payments through various gateways, channels, and methods based on customers’ preferences. These options can include credit cards, debit cards, ACH, eChecks, wire transfers, PayPal, and more. Offering this flexibility results in quicker payments into your bank account, as customers can choose their preferred payment method. AR Automation goes hand-in-hand with e-invoicing, using a platform such as Corcentric EIPP.

Interact quickly with the customer to clarify an allocation or request a claim, supporting document or payment. We’ve designed Upflow to help you better manage your AR, which in turn increases your cash flow and long-term growth. You should also pay attention to the scope of the KPIs, i.e. if you can zoom in and out on your metrics. For example, Upflow allows you to directly click on an invoice to access your account from your billing cohort. Instead of jumping head first into choosing an AR software (which we’ll cover later), let’s take a moment to review how to automate your process in the first place.

Accounts receivable (AR) automation has emerged as a solution to the challenges posed by manual AR management, offering enhanced productivity, improved accuracy, better visibility, and cost savings. Manually managing accounts receivable (AR) is inefficient, risky, and costly for any business. The benefits of AR automation can help businesses realize major gains in productivity, accuracy, visibility and cost savings. Accounts receivable automation — or AR automation — automates manual accounts receivable processes with software to save time, reduce costs and prevent errors.

From mapping out your process steps to integrating payment gateways and utilizing interactive dashboards for insights, each practice contributes to improved efficiency, accuracy, and customer satisfaction. By automating accounts receivable processes, you reduce the time it takes for invoices to reach customers – enabling faster customer payments. Electronic invoicing ensures invoices reach customers wherever they are, and can directly integrate with their AP systems to simplify payment processing through 3-way matching. Corcentric’s grant writing for dummies by beverly browning solutions offer guaranteed and fixed DSO on all receivables, shaving days off DSO and eliminating delinquency. By replacing manual processes, you can eliminate late payments due to disputes and reduce bad debt. By taking human error out of the loop, AR automation improves data consistency with real-time responsiveness while managing multiple customers and complex systems.

Automating this workflow enhances consistency, accuracy, efficiency, and transparency across your AR operations. For example, set up automated workflows to send email reminders to customers at 15, 30, and 60 days past the original invoice due date, ensuring timely payment reminders. Manually producing, sending, or uploading invoices to customers’ portals is inefficient and at risk of human error.