Accounts receivable
Legally enforceable claim for payment to a business by its customer/ clients for goods supplied and/or services rendered in execution of the customer’s order
All edits
From the moment an order comes in through sales or customer service, AR specialists enter them into the accounting system to create the invoice, and the order to cash cycle begins.
AR specialists handle an average of 500 active customers on a daily basis, which are often managed manually via emails. The volume of invoices and payments that must be processed leaves AR specialists with very little time to focus on invoices that are aging out, much less the opportunity to be strategic with their approach and manage relationships.
At YayPay, we see automation of the credit to cash cycle occur in four stages as companies invest in their people and technology.
- Manual: Little to no automation. Everything exists on different platforms with Excel spreadsheets as a mainstay of business reporting and processes.
- Rules-Based Automation: Investment into infrastructure via ERP to centralize data, and some rule-based bulk processing to issue dunning letters.
- Fragmented Automation: Introduction of CRM to make invoicing smarter, more efficient, and more accurate. Most AR automation software serve this stage, and exists as a fragmented solutions to address pain points as they arise.
- Complete Automation: One platform for everyone for everything AR.
From the moment an order comes in through sales or customer service, AR specialists enter them into the accounting system to create the invoice, and the order to cash cycle begins.
AR specialists handle an average of 500 active customers on a daily basis, which are often managed manually via emails. The volume of invoices and payments that must be processed leaves AR specialists with very little time to focus on invoices that are aging out, much less the opportunity to be strategic with their approach and manage relationships.
At YayPay, we see automation of the credit to cash cycle occur in four stages as companies invest in their people and technology.
- Manual: Little to no automation. Everything exists on different platforms with Excel spreadsheets as a mainstay of business reporting and processes.
- Rules-Based Automation: Investment into infrastructure via ERP to centralize data, and some rule-based bulk processing to issue dunning letters.
- Fragmented Automation: Introduction of CRM to make invoicing smarter, more efficient, and more accurate. Most AR automation software serve this stage, and exists as a fragmented solutions to address pain points as they arise.
- Complete Automation: One platform for everyone for everything AR.
Accounts receivable
Legally enforceable claim for payment to a business by its customer/ clients for goods supplied and/or services rendered in execution of the customer’s order
Find more entities like Accounts receivable
