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5 Must-Haves for Integrated Commerce
Integrated commerce merges traditional business processes with electronic commerce capabilities. By implementing AR automation technology via an integrated solution, your organization can benefit from reduced costs, greater operational efficiency and better customer experience.
5 Must-Haves for Integrated Commerce Technology
More and more organizations are implementing integrated commerce solutions to transform AR processes. But to maximize the impact of your organization’s technology investments, there are at least five must-have features that should be included in the solution you select:
- Electronic Invoice Presentment – Manual invoicing is a time-consuming and costly process. In addition, paper invoices increase the likelihood of inaccuracies and errors. An electronic system mitigates these risks and provides customers with invoices in a timely manner.
- Online Payment Processing – With online processing in place, your accounts receivables department can experience a 50 percent reduction in billing costs. Plus, you’ll reduce the invoicing process by several days. As a result, you’ll be able to collect on accounts receivables more quickly.
- Easy Payment Options – It’s a good business practice to provide your customers with flexible payment options. A limited number of payment choices can result in slower payment times, which in turn can directly affect your cash flow. By providing your customers with multiple payment options—including credit cards and the Automated Clearing House (ACH) payments—you can reduce the time it takes for customers to manage and submit payments.
- Timely Dispute Resolution – Disputed invoices slow down customer payments. A key component of an integrated commerce system is streamlined dispute resolution. Ultimately, automated dispute resolution saves time and hassle for both your customers and your AR team.
- Stronger Payments Security – Leading integrated systems include electronic payment capabilities, highlighting the need for strong security features. By implementing a PCI-compliant solution, you can minimize the risk of data loss and protect against the threat of serious security breaches.
Ready to Implement an Integrated Commerce Solution?
Direct Insite has the technology and expertise to help your organization implement a powerful and easy-to-use integrated commerce solution. In addition to increasing cash flow and reducing operating costs, you can experience reduced Days Sales Outstanding (DSO) and minimize receivables processing time.
When it’s time for your organization or enterprise to implement or upgrade your integrated commerce solution, call Direct Insite at (610) 212-2487 or email us at email@example.com to schedule a private demo of our technology.