Power of PAYBOX®
The Benefits of Integrated Receivables
Corporate treasury and accounts receivables managers want an integrated receivables solution that streamlines the accounts receivables process. A robust receivables processing platform eliminates high labor costs and financial supply chain inefficiencies by replacing antiquated methods with optimized receivables management solutions.
Why Your Organization Needs Integrated Receivables Technology
Accounts receivables personnel are tasked with handling large amounts of data for their organizations. But by using outdated and archaic receivables processing methods, employees are only making their tasks more time- consuming – and hurting their organizations’ cash flow performance.
In addition, enterprises that don’t incorporate integrated receivables into their receivables processing strategy are subject to:
- Information errors that arise from manual data entry, human-related processing errors and inaccurate or lost invoices.
- High labor and operating costs associated with producing paper invoices – generally about $35 per invoice – as well as mailing and postage fees.
- Data that is unsecure and at risk of being intercepted and viewed by an unauthorized third party.
However, organizations that take the steps to leverage integrated receivables technology with their existing platforms can avoid these pitfalls – and experience the benefits of a streamlined solution.
How AR Departments Can Benefit From an Integrated Receivables Solution
Corporate AR and treasury departments can increase financial supply chain performance and accelerate cash flow by implementing a simplified receivables processing solution. Additional benefits of an integrated receivables solution include:
- Reduced Operational Costs – With completely automated receivables processing, you’ll reduce AR costs associated with invoice preparation, presentment and collection by more than 90 percent.
- Accelerated Cash Flow – An integrated receivables management technology helps improve cash flow and reduce Days Sales Outstanding (DSO) by up to 80 percent. Additionally, you’ll be able to better forecast payment cycles and lower processing times by more than 75 percent.
- Seamless Integration With Existing Technology – A strong receivables processing solution can integrate with your organization’s existing ERP software, as well as other platforms. Armed with enhanced technology, you’ll gain in-depth visibility into your organization’s current AR practices.
- Improved Information Accuracy and Security – Since automated receivables processing eliminates the need to manually enter invoice information, you’ll experience a decreased amount of inaccurate and incomplete invoices. Even more, automated solutions leverage advanced security measurements and encryptions, mitigating the risk that sensitive information can be lost or stolen.
Ultimately, integrated receivables play a crucial role in organizations seeking to enhance their productivity and drive measurable business results.
Leverage an Advanced Integrated Receivables Solution with Direct Insite
Direct Insite is an industry leader in providing top-tier integrated receivables technology – like our revolutionary PAYBOX® technology. Our PAYBOX solution enables organizations to receive maximum benefits from their receivables processing strategy, while simultaneously improving financial performance. To learn more about the benefits of PAYBOX as an integrated receivables solution or to schedule a private demonstration, contact us today.