How AR Solutions Can Enhance Cash Flow

Corporate accounts receivables departments eager to improve financial supply chain performance need to first uncover how to enhance cash flow. Why? Because increased insight into cash flow can lead to an improvement in working capital.

What’s the fastest, simplest way to achieve improved cash flow performance? Automated AR solutions.

3 Elements of AR Technology That Enhance Cash Flow

Slow and inaccurate payment processing procedures can cause businesses to lose customers, negatively affecting annual financial performance. Automated AR technology streamlines department processes through electronic treasury management systems. Not only do electronic solutions save organizations time and money, but quicker invoice presentment and payment processing have a positive impact on financial supply chain performance.

By leveraging these three elements, AR solutions can help enhance cash flow:

  1. Electronic Invoicing– Manual, paper-based invoices can play a major role in driving corporate operational costs up. Since AR department personnel are responsible for creating and mailing paper invoices, statements are also at higher risk for keying errors and slow mailing times. Electronic invoices make use of an online portal that customers can securely log in to when statements are available. In addition, automatically generated invoices are much less likely to include billing errors.
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  3. Online Payment Portals – Waiting for customers to mail in checks to settle invoices can take weeks and result in serious delays in payment processing. Companies that offer online payment options can present customers with a variety of payment methods, including direct withdrawals, major credit cards and ACH transfers. After viewing electronic invoices, customers can settle bills at their earliest convenience.
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  5. Robust Payments Security – Customers are increasingly worried about the safety of their personal information, especially when using electronic payment services. But automated AR technology uses bank-level encryption keys and a PCI-certified payment system to protect the integrity of customer data. Robust safety features encourages more customers to use electronic payment systems, effectively helping companies enhance cash flow.

Where can corporations find a tool that combines top-tier payments security, simplified e-invoicing and user-friendly online payment portals?

Introducing PAYBOX® Core and PAYBOX® Integrated Receivables.

A cloud-hosted, reverse lockbox solution, PAYBOX® integrates with legacy AR technology to simplify end-to-end receivables processing by combining:

  • Electronic invoicing – Billers are able to post invoices to a secure website portal.
  • Online approvals and adjustments – The system replicates a payer’s workflow to allow for online review, adjustment and approval of statements.
  • Electronic payment capabilities – Customers are able to control the amount they pay, the method of payment and invoice settling date.

Interested in learning more about the key features of PAYBOX®? Contact PAYBOX® today to get started.

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