Power of PAYBOX®
The Business Case for AR Automation
By Joan Foley
It’s no secret that technology is transforming the way enterprises address complex operational requirements, including the management of their financial supply chains.
But far too many organizations still rely on paper-based invoicing in their accounts receivable and order-to-cash processes. The use of paper invoicing and manual processing requirements is especially troublesome for global enterprises because of the complexity in aggregating and validating data across multiple business units.
Without AR automation and e-invoicing solutions, enterprises typically experience several operational concerns and competitive disadvantages:
- High manual invoice processing requirements
- High percentages of invoice errors
- Elevated costs on a per-invoice basis
- Inability to efficiently resolve invoice disputes
- Low customer satisfaction with their invoice processes
- Lack of real-time visibility to key metrics like invoices outstanding
- Limited ability to configure AR workflows
- Inaccessibility of archived dispute information, payment history and other data
Direct Insite’s PAYBOX® e-invoicing suite addresses critical pain points in an organization’s AR cycle. By enabling organizations to automatically convert purchase orders and sales orders into preliminary invoices (subject to configurable review workflows) and automating the resolution of disputed invoices, PAYBOX® provides global enterprises with world-class functionality as well as integration with existing ERP and financial systems.
AR e-invoicing solutions provide several key benefits to global enterprises, including:
- Lower Days Sales Outstanding (DSO)
- Faster resolution of disputed invoices
- Lower processing costs
- Improved reporting, metrics and AR analysis
But not all accounts receivable solutions offer the same features and capabilities. Direct Insite’s AR e-invoicing solutions are enterprise scalable. They have been built to integrate with any ERP or financial system and to provide a comprehensive slate of features designed to meet the complex business requirements of large organizations.
Key Direct Insite features for AR include:
- Company profile management
- Integration with any existing ERP or financial system
- Ability to configure invoice generation and approval workflows
- Supports line-item detail and allows short payment against line-items
- Invoice and line-item level inquiries and dispute actions
- Digitally archived dispute information that includes reason codes, descriptions, invoice and account numbers, and other data fields
- Configurable dispute management rules and the ability to export data to a third-party systems
- Easy payment processes for non-disputed invoices including integrated e-payment capabilities
Even as the economy improves, companies will continue their focus on accelerating cash flow.
To learn how Direct Insite can help, e-mail me at email@example.com.