modernizing accounts receivable

Things To Consider When Modernizing Accounts Receivable

Modernizing accounts receivable is often low hanging fruit for medium sized B2B organizations. We have written recently on the Future of AP Software, but there are also significant improvements available through modernization of account receivable. A study from Altradius found that the average credit terms in North America was 27 days but average payment duration was 61 days. That is a large gap and can be very problematic for an AR Department. Many B2B organizations still have antiquated AR processes which is not helping their customers pay them on time. Modernization of accounts receivable makes things easier for customer and also reduces manual effort. Here are the main components in modernizing accounts receivable.
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The Future of AP Software Solutions

The future of AP software solutions is here. There are significant benefits for organizations to use AP Software Solutions. As an example, a recent study by the United States Treasury has estimated that by implementing e-invoicing across all federal government agencies, it could help cut costs by 50% for an annual savings of $450 Million. Right now Latin America countries are amoung the leaders in embracing invoice digitization. Here are a few of the themes that are driving the future of AP software solutions.
 
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6 Benefits of AP Software

AP software is a great way to help an organization as well as the Accounts Payable Department. The AP Department is the ultimate cost centre as it doesn’t generate revenue and it actually pays all or most of the costs. AP software can help the Accounts Payable department and also help many other parts of the business. Here are some benefits of using AP Software:
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