ERP software can manage almost everything you would ever need in a manufacturing company. From materials planning to inventory and supply chain management. Unfortunately, the accounting software isn’t always the best. Accounts receivable are the lifeblood of any manufacturing company and without proper management you won’t be able to pay your suppliers or employees.
BENEFITS OF USING ACCOUNT RECEIVABLE SOFTWARE IN MANUFACTURING
Using accounts receivable software with your current ERP system streamlines processes, allowing you to work ahead of schedule and get your money faster. In fact, studies show that companies using an accounts receivable software get paid up to 20 percent faster.
Accounts receivable software has the ability to keep all of your invoices and communications organized. Each customer has their own dashboard, allowing you to see how has paid and who hasn’t, as well as who has been contacted to pay. All emails and calls are logged, giving you all the information you need in case of an invoice dispute.
REDUCE FINANCING COSTS
Since you’re getting your money on time with an accounts receivable software, you’re less likely to need to borrow money. Consider all the interest you have paid over the years simply because your customers aren’t paying you on time. The faster you get paid, the more money you save.
With an accounts receivable software’s quick look up for each customer displaying all the information regarding their paid and unpaid invoices, you’re saving yourself a lot of time. Time that could be spent doing more important tasks. In fact, studies show that companies using an accounts receivable software reduce time spent making calls to customers by 15 percent.
An accounts receivable software integrated with an existing ERP system enhances all the accounting and financial processes you previously had. Manufacturers are better able to manage their credit collections and invoice operations. Lockstep Collect, an automated accounts receivable software, can integrate with Sage, Epicor, Oracle, Infor, NetSuite, Sage Intacct, Microsoft Dynamics, SAP and many more.