Self-service AR is a logical extension of automating office processes. It helps automate both sides of a transaction. It closes the loop with your customer, and increases efficiency and the accuracy and timeliness of transactions and data.
Customers are your business partners. Giving them the tools to participate in your business processes helps to solidify customer relationships. It benefits both you and your customers, and makes your company easy to do business with.
- Increased efficiency – When customers use self-service AR for document access, payments, dispute notices and messages, your team doesn’t have to perform the manual or duplicate tasks already performed by the customer and automated processes.
- Save time – Increased efficiency results in benefits including time saved. Time your AR team can spend contacting customers and making collections.
- Reduced costs – Eliminating unnecessary manual tasks can help to reduce overtime and the need to increase staff.
- Accurate information – Direct entry of information eliminates double handling and increases accuracy. Customers know their information best. They have a stake in entering it correctly in a self-service portal.
- Increased cash flow – Extending office automation with a self-service portal encourages electronic payments, and the timely and accurate entry of profile data. This helps to increase collections and cash flow.
- Remote work – Customers want to be able to work remotely. A self-service portal makes working remotely easier.
- Convenient to use – Customers want to work when it is convenient. They don’t want to be tied to office hours. A self-service portal provides the convenience they want.
- Increased efficiency – A self-service portal eliminates needless emails and calls to your team. Customers don’t want to waste time trying to reach your AR team when they can use a self-service portal.
Self-service is a logical extension of AR automation. It gives your customers ownership in your business processes, and saves time and reduces costs for everyone. Automating credit and collections activities helps to increase profits and cash flow.
With a connected accounting solution for your AR and AP 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.lockstephq.com.