Power of PAYBOX®
5 Advantages of Integrated Receivables
Integrated receivables play an important role in helping corporations leverage the AR function for improved business performance. Across all industries, higher labor costs and financial supply chain inefficiencies are causing organizations to move away from paper-based invoicing and receivables processes in favor of e-invoicing and more sophisticate receivables routines.
Direct Insite’s PAYBOX® platform offers a convenient, proven integrated receivables solution. In addition to increasing profitability and financial supply chain efficiency, PAYBOX® reduces invoice presentment and collection costs by as much as 90 percent.
Benefits of Integrated Receivables
AR improvement is a high priority for many organizations because it presents opportunities to transform financial supply chain operations and increase bottom line business results. At Direct Insite, we specialize in helping enterprises achieve key AR outcomes by transitioning to an advanced platform for integrated receivables.
Benefits of Direct Insite’s PAYBOX® solution include:
- More Accurate Data. By eliminating manual entry routines and paper-based processes, integrated receivables increase the accuracy and security of data. Automated e-invoicing imports and manages data for you, mitigating the risk of re-keying errors, lost invoices and stolen customer data.
- Faster Straight-Through Processing. A 2014 Blue Hills Research study sponsored by Direct Insite showed that organizations’ top goal for receivables and payments processes is to reduce receivables processing time. With Direct Insite, enterprises significantly reduce average receivables processing time and increase the percentage of the organization’s straight-through invoices to 80 percent.
- Less Reliance on Human Intervention. Human intervention increases exposure to errors and other risks. It also increases the cost and time it takes to effectively manage the organization’s receivables activities. By weaning your organization away from an overreliance on human intervention, you can make AR more efficient, secure and accurate. In many cases, Direct Insite’s platform can lower invoice processing times by 35 days or more, freeing up AR teams to focus on more important activities.
- Integration with Legacy Technologies. The most advanced integrated receivables platforms seamlessly integrate with your organization’s ERP and other technologies. Combined with other features, legacy integration improves the value of your existing technology investments by improving AR visibility and creating a unified IT ecosystem for the processing and managing of payments.
- Improved Financial Performance. One of the most important benefits of Direct Insite’s PAYBOX® solution is that it lowers costs and increases profitability for your enterprise. While average processing and collection costs can run $35 per invoice for companies that use manual invoicing processes, companies that use an integrated receivables approach can reduce processing and collection to $1 per invoice.
Want to Learn More About Integrated Receivables?
Direct Insite’s PAYBOX® solution is a comprehensive platform that maximizes opportunities for integrated receivables in your organization. Used by large, growth-oriented enterprises around the world, PAYBOX® is proven technology for reducing risk and achieving improved financial performance through AR.
Call us today at (610) 212-2487 to learn more about PAYBOX® or to schedule a private consultation.