Power of PAYBOX®
Improving the Order to Cash Process
Interested in achieving a faster and more efficient order to cash process? You’re not alone. Many enterprises are recognizing the value of streamlining receivables to improve cash flow.
Studies show that about 60 percent of corporations aren’t satisfied with their AR processes. PAYBOX® is a strong solution for corporations looking to better their order to cash process.
Order to Cash Benefits of PAYBOX®
- Reduced Days Sales Outstanding (DSO) – Using an automated system to speed up the order to cash process can reduce your company’s payment cycle time by as much as 50 percent. A lower DSO also means that you will have more cash available for short-term investment and business opportunities.
- Lowered Invoice Presentment and AR Costs – Your company can experience cost reductions of more than 90 percent by eliminating the need for manual printing and mailing of invoices. In addition, you’ll be able to reduce labor costs and the need for AR personnel to handle invoicing, allowing you to deploy their talents to more important projects.
- Straight-Through Processing (STP) Posting Rates of More Than 80 Percent – STP eliminates the potential for errors and delays that are common with re-keying and manual processing. Direct Insite’s e-invoicing and e-payment solution automates the invoice lifecycle and breathes new life into inefficient and antiquated AR processes.
Enhancing Your Order to Cash Process with PAYBOX®
Direct Insite conducted a study with Blue Hill Research Group, which revealed that receivables automation and improvement remains a top priority for corporations. The study indicated that these goals are a direct result of challenges that emerge from outdated manual processing systems that move too slowly and are too costly for growth-minded companies.
Direct Insite’s PAYBOX® addresses order to cash challenges through:
- Invoice Presentment – Using PAYBOX®, corporations are able to post invoices to a secured website. Customers are then able to access invoices at any time through a password-protected process, making payment processes simpler and quicker.
- Online Approvals and Adjustments – PAYBOX® replicates the customer’s billing cycle to review, adjust and approve invoices. Corporations can then receive real-time updates requiring any necessary actions, resulting in a speedy resolution and lower dispute rate.
- Electronic Payment Capabilities – When your company implements the PAYBOX® platform, your customers gain visibility to payment amounts, invoice due dates and payment options. Using electronic payments alongside invoice presentment within a single system can improve your order to cash process.
- Receivables Integration – PAYBOX® uses a remittance file for reconciliation and can migrate with any legacy enterprise resource planning (ERP) or accounting system. In addition, PAYBOX can also work with legacy lockbox and treasury systems to serve as a key building block for an integrated receivables strategy.
- Dynamic Discounting and Supply Chain Financing – PAYBOX® facilitates discounting and financing, improving your ability to incentivize customers through early payments, allowing you to reduce payment times.
Is It Time for Your Company to Improve Its Order to Cash Process?
Direct Insite’s PAYBOX® platform is an innovative solution designed to simplify invoice distribution for your company, and improve payment processes for your clients.
Ready to experience the benefits of an improved order to cash process? Call us at (610)-212-2487 or email us at firstname.lastname@example.org for a private demonstration of the PAYBOX® platform.