Working from home is the new normal for many organizations. This blog focuses on helping AR departments work remotely. Most organizations have ERP or financial systems that allow them digitally access, most of their finance team’s information. Many organizations are finding that there are still many processes, which are done manually and in some cases are difficult to carry out remotely. COVID-19 is forcing companies to accelerate their digital transformation. Continue reading Helping AR Work Remotely
The finance department is already a cost centre, as such adding extra software expense can be difficult to justify. It is important for the internal champion to build a business case for AP Automation A recent study by Business Insider on AP Automation found that the $22 trillion US B2B payments market has been slow to digitize, with 36% of firms using paper invoicing, 47% relying on manual processes for approval, and 49% of payments made by check. The cost associated with these manual activities can be substantially cut through AP Automation.
One of the main goals for finance team is to improve working capital. This blog will focus on a few ways that the Accounts Receivable team can help improve working capital for an organization. Working capital is especially important for SME, as they have fewer financing options than larger organizations.