Operating a business requires consistent cash flow, which only happens when customers pay on time. Stable cash flow ensures smooth business operations, however, things can become stressful when customers routinely delay payments. Overdue invoices increase the risk of bad debt and chasing unpaid invoices is a resource drain for finance teams. Fortunately, numerous strategies exist to effectively handle late-paying customers and manage outstanding payments. This blog will guide you in unlocking your cash flow by effectively managing outstanding invoices. In this article Key Factors Behind Pay ..read more

As a finance lead, you understand that an organization’s cash flow is its lifeblood, and at its core lies operational efficiency. Factors such as employee time, operational costs, and customer satisfaction play a critical role in optimizing business effectiveness. In the operational landscape of every business, the adoption of either an ERP or an accounting platform is ubiquitous, both of which integrate the essential functionality of managing accounts receivable. The key question becomes: does the native functionality offer adequate automation for managing accounts receivable processes effi ..read more

Managing a company’s invoice-to-cash (I2C) cycle requires a delicate balance of firmness and tact since the necessity for prompt customer payments exists alongside the goal of preserving positive customer relationships. However, manual handling of the I2C process consumes substantial time, can be prone to errors and is often demanding on resources. Implementing an automation solution for the I2C process can strategically streamline workflows and empower businesses to maintain financial control. This blog will explore some of the major invoice-to-cash challenges and discuss how accounts rece ..read more

As businesses expand their operations across borders, efficient B2B payment solutions become essential. Many small and medium businesses opt for digital payments because manual processes take longer and increase financial strain on your business. Limited payment options, higher transaction costs, and using cheques to pay invoices are inefficient practices that impact your cash flow. B2B payment automation transforms your payment collections processes by offering payment convenience to your customers while streamlining payment workflows so you get paid promptly. This article features the benef ..read more

Paper-based manual invoicing processes take longer to generate and are administratively expensive for both you and your customer. This increases the risk of invoices getting misplaced or overlooked which can slow down cash flow. Invoicing errors, disputes, and late payments are other common issues with manual invoicing. Though invoice automation software is an ideal solution to optimize processes and cash flow, choosing the right invoice automation processing software for your business matters. To help you decide, this article focuses on tips for choosing the right invoice automation softwar ..read more

When a company struggles to collect accounts receivable (AR) from the clients who owe for the products and services they received, it ties up the company’s cash flow. To get paid, the AR team sends payment reminders, dunning notices, emails, and phone calls which can be manual an onerous. The issues escalate when the AR team sends invoices with errors, frustrating clients and further delaying receivables. Traditional workflows increase the risk of cash flow inconsistencies and may damage the client relationship. Improving AR collections requires going beyond tweaking manual cash flow process ..read more

When your customers make frequent purchases, but you bill them per transaction, you may be missing out on the advantages of consolidated invoicing. Consolidated invoices are a game-changer for companies looking to improve their cash flow. By consolidating invoices, businesses can streamline their billing processes, reduce administrative costs and improve efficiency. In this article What is Consolidated Invoicing? Consolidated invoicing is when a customer is billed on one invoice for multiple services or purchases acquired over a set period of time. All transactions during this specified bil ..read more

For businesses to prosper, exceptional customer experiences are a prerequisite that should not be compromised. With customer loyalty hinging on good customer experiences (CX), more companies are choosing to prioritize CX strategies. But CX extends well beyond customer service. CX is the sum of interactions that a business has with a customer through all stages of the buyer journey. A critical part of that customer experience resides in the invoicing and payment cycle. Just one negative experience in the invoice-to-payment journey could lead to an abandoned transaction or customer attrition ..read more

As the CFO or finance lead for your company, streamlining processes and reducing costs are your bread and butter. So, as we emerge out of the pandemic, implementing business survival strategies is quickly becoming a top priority for many businesses. Accounts receivable (AR) automation saves time, accelerates cash flow and generates valuable business insights which can help with strategic planning. The benefits are hard to ignore. So, let’s look at how AR automation can help advance your business. In this article AR Automation Saves Time In a traditional accounts receivable workflow, much of ..read more

Managing a company’s invoice-to-cash (I2C) cycle requires a delicate balance of firmness and tact since the necessity for prompt customer payments exists alongside the goal of preserving positive customer relationships. However, manual handling of the I2C process consumes substantial time, can be prone to errors and is often demanding on resources. Implementing an automation solution for the I2C process can strategically streamline workflows and empower businesses to maintain financial control. This blog will explore some of the major invoice-to-cash challenges and discuss how accounts rece ..read more