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Accounts Receivable represents one of the largest assets on every company’s balance sheet. So, why are so many companies managing their largest asset with manual processes? Paper based credit reviews take days to consolidate, analyze and provide a recommendation. Gaining approval adds additional days on top of that. In a manual environment, many companies totally neglect periodic reviews of their current customer base to ensure they are still financially capable of meeting obligations. Manual collections prevent analysts from contacting their entire portfolio each month allowing accounts to continuously roll overdue. Disputes and deductions are more often written-off because it is too time consuming to follow up and resolve them. Payments are misapplied and often posted on account rather than against the invoices they are for within a manual process. All of this leads to poor cash flow management and a neglected balance sheet. Instituting an automated solution that leverages artificial intelligence and machine learning erases the years of neglect and sets a company on a path towards continuous improvement. Read about the day-in-the-life of a Credit Manager utilizing an automated solution to make doing business less work.


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