You made it. You sold it. You shipped it. Now it’s time to get paid. An accounts receivable automation strategy can speed up the process, improving your cash flow and helping you re-invest in your business.
A Faster, Simpler Accounts Receivable System
Let’s back up for a minute. IntelliChief can organize all of your order-to-cash documents – from quote requests and sales orders to shipping documents and delivery receipts. With these documents instantly accessible within the IntelliChief system, your billing department can invoice customers right away, instead of waiting on the arrival of a paper document to get the ball rolling.
Automation doesn’t just make your Accounts Receivable department faster – it makes it more cost-effective as well. Routine tasks can be handled by IntelliChief’s software, and your employees can reallocate their time to more valuable tasks.
Reduce Days Sales Outstanding with AR Automation
With IntelliChief, you can generate invoices and send them in any format your customers prefer – be it email, regular mail, or fax – right from your ERP. Because you’ll be able to send invoices right away, you’ll be able to collect payment faster. In fact, invoicing your customers in a more timely manner is one of the top ways that you can reduce your DSO.
Additionally, you’ll be able to reduce invoicing errors, speeding up the process even further. Invoices that contain incorrect information lead to time-consuming disputes (not to mention headaches for your customer service team). However, IntelliChief automatically provides the information for each invoice, ensuring complete accuracy.
Additional Features of IntelliChief’s Accounts Receivable Software
When it comes to making the order-to-cash cycle less labor-intensive, every bit helps. IntelliChief can automate additional steps in the accounts receivable process, such as:
- Credit checks
- Engineering approvals
- Payment tracking and follow-up alerts
IntelliChief doesn’t just help you automate your accounts receivable department – it can also be a valuable business planning tool. Its analytics capabilities provide key metrics that can be used for accounts receivable reporting. You can see how many invoices have yet to be paid, as well as how long ago they were originally sent. Highlighting potential risks and liabilities helps you identify potential ways to improve your cash flow.
Ready for quicker payments and improved cash flow? To learn more about how you can put accounts receivable automation to use in your business, contact IntelliChief today.