Accounts receivable isn’t often the first thought that comes to mind when you’re trying to climb the CFO ladder. Tucked away in the back office, this important function rarely gets the attention it deserves. And often isn’t top of the list for the drinks invites.
But automating your AR is an easy, fast and cost-effective way to stand out from your peers and shift your career up a gear.
Get the leadership team on side
The monthly reporting headache. It takes time to collate data and deliver insight. Depending on your ERP and tech stack, the data can be muddled. Sitting in different systems (or worse, spreadsheets), questions are asked but answers aren’t always precise.
Automated AR gives you a live dashboard. Debtor data and KPIs are available at a glance. You can be the game changer. Provide robust analysis on cash flow. Visualise debtor trends, understand your AR efficiency. Help the company grow.
If this doesn’t win you friends around the board table…
Build a loyal finance team
AR can be full of manual tasks. Timing reminders correctly, squeezing in phone calls when there’s a spare five minutes, writing up notes from payment talks with customers, pulling and manipulating data for reports.
AR tech can help. The entry cost is low, the ROI high. And there’s enough choice in the market to suit all budgets, business models and accounting systems.
Reducing the manual workload of AR will increase team productivity. It’s also a safe bet that your team will be forever loyal to you after giving the most mundane, repetitive tasks to automation.
Find common ground with marketing
Marketing and finance aren’t often best friends. Marketing likes to spend money. Finance wants to see ROI, like yesterday.
Automating AR is a quick, low-cost way to ensure a better customer experience. Something marketing is keen on.
Automation delivers a clear AR process for both the business and customer. It can also be the last chance to make an impression on the customer before they become a loyal repeat customer – or go looking elsewhere. Be marketing’s friend and make it a good one.
The icing on the cake
If winning over colleagues wasn’t enough we haven’t even mentioned the obvious. Cash flow.
Automating your AR is one of the easiest ways to improve cash flow fast. With automation running the basics, all debtors are chased no matter how large or small the outstanding amount. Invoices don’t slip through cracks. Disputes are raised faster.
With the repetitive being taken care of, your finance team will be more productive. They’ll be able to give personal attention to accounts that really need it. They’ll have time to work more strategically on insights.
Want to boost your career with automated AR? Chat to us to get started now.