Even though Accounts Receivable (AR) departments have been leveraging technology for years - paper is still slowing down processes and clouding visibility into cash flow management. Eliminating the paper shuffle and further streamlining processes allow organizations to lower day sales outstanding (DSO) and accelerate cash flow cycles. Employees from the mailroom through executive management can benefit from the efficiencies of enterprise content management.
Collections ManagementOrganizations are struggling with how to address the rising costs to manage the unpredictable collections process. Case Management solutions from Kiriworks provide the tools to manage all of the activity around collections or disputes in a single location. From activity logs, to agency reports and legal correspondence - you can provide transparency into the collections process.
Digital MailroomHow long does it take to get critical content from the mailroom to a knowledge worker? What if you could scan paper documents as they arrive into the mailroom without having to sort and organize into batches? Digital Mailroom solutions from Kiriworks automatically classify documents and extract critical information for processing. Now, payments are electronically received minutes from when they arrived in the mail.
ERP IntegrationMost AR departments are utilizing an ERP or accounting system to help with cash flow management, but it can’t handle data and documents together. Integrating document management with your ERP allows you to connect your data and documents. AR staff members can now stay in their familiar ERP applications and documents related to that specific transaction or account are just a mouse-click or keystroke away.
Order-to-Cash ProcessingThe full order-to-cash process is overlooked by many organizations when reviewing their AR operations. Enterprise content management (ECM) creates a cohesive bond between all segments of the process - from order entry through payment processing. Automating the order-to-cash document processes improves cash availability by decreasing the number of touch points at each stage of the process.
Uncollectable Invoice Trends
of invoices 3 months old are uncollectable
of invoices 6 months old are uncollectable
of invoices 12 months old are uncollectable