Selecting the best AR automation solutions for the Acumatica ERP platform is essential. Choose AR automation software with the must-have features needed to address the pain points of your industry and company. It should be scalable, flexible, cloud-based, and have the reporting and analysis capabilities you will need.
Address Industry Pain Points
COVID-19 radically altered the landscape facing companies. The AR automation software you select needs to address the pain points in the new normal.
- Customer experience – AR automation is needed to enhance customer experience from onboarding through cash application and credit reviews. It costs less to do what is necessary to retain customers than acquire new ones.
- Channels of communication – You will need automation software that supports remote work, mobile communications, customized automated email, and an online self-serve portal to communicate easily with customers.
- Automated AR processes – Credit approval through cash application need to be automated in order to function effectively in the new normal. A mix of manual and automated solutions will detract from customer experience and negatively impact the ability to meet AR goals.
Specific Company Pain Points
- Collections – Collections depend on frequent customer contact, quickly identifying priorities and customized email reminders. Including collection activity management, automated email, and an online self-serve portal in your AR automation features will improve collections.
- Resources – If your AR team is stretched thin then you need to select time saving features including: an online self-serve portal, customized automated email, and collections activity management.
- Resolving disputes – You need to learn about disputes early rather than after a customer takes a deduction. A self-serve online portal with dispute reporting and communication capabilities can facilitate early reporting and quick resolution.
Identify the pain points for your company and industry, and make sure that the features you choose for Acumatica AR automation will ease the pain.
Accounts receivable and accounts payable cloud-based solutions with customer/vendor portals and digital processes keep vendors and customers connected whether they work remotely or not.
With a connected accounting solution for your accounts receivable and accounts payable teams to coordinate work with customers and vendors, you can go digital and enjoy the benefits of office automation.
Lockstep, a leader in cloud-based connected accounting solutions, can help you boost productivity and optimize cash flow with:
- Digital Onboarding – Collect master data directly from your customers and vendors
- Accounting Inbox – Make it easy to divvy up work and track progress
- Smart Automation – Automate menial task with accounting integration
- Online Accounts – Give customers and vendors online access to their accounts
Lockstep is an experienced software partner that can help you increase efficiency and accelerate cash flow.
If you would like to learn more about how you can benefit from connected accounting solutions, please contact Lockstep at www.lockstep.io