Self-service AR can give your customers the convenience and flexibility to work remotely, and choose when they work on their accounts. A self-serve portal gives your customers ownership in the management of their accounts, and relieves your team of tedious manual tasks.
Some activities your customers can do with self-service AR include:
With a self-service portal your customers can access copies of documents including invoices and statements. They don’t have to spend time contacting your AR team to request copies. And, your team doesn’t have to waste time locating and sending the copies.
Document problems are often the reason for payment delays. Give your customers access to documents so they can pay their accounts promptly.
Payment processing is time consuming and expensive for customers. With a self-serve portal customers can reduce both. They can pay electronically and eliminate the hassle of processing checks.
Your team won’t have to process checks, and manually enter data into your system. Direct feeds can automatically update your systems.
Disputes result in higher costs and slower payments. Many companies find out about disputes after an unauthorized deductions or chargebacks have occurred. With self-service AR, customers can initiate disputes online, which gives you the ability to manage the disputes and prevent further problems.
Timely response to disputes saves time, and accelerates cash flow.
Customers can send messages to your team via a portal, and avoid having to compose separate emails. This saves time and makes communication easier for you and your customers.
Keeping master data current and correct is essential to automated processes. With self-service AR your customers can manage master data easily. Profile management saves everyone time and helps to ensure smooth running automated systems.
Self-service AR gives your customers a stake in the business process. It saves time and reduces costs for you and your customers. Automating credit and collections processes increases 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.