Do what you do best, better
Performing against A/R metrics like Days Sales Outstanding (DSO) is a constant challenge, especially when your current team is already at maximum workload capacity and your business continues to grow. Long-tail business process automation is a solution that can help you overcome issues with staff capacity and efficiency so your team can focus on reducing DSO and increasing customer satisfaction. A/R leaders are automating long-tail credit and A/R processes to improve speed, quality and efficiency.
Targeting Automation for the Highest Returns
Long-tail business process optimization integrates automation where technology can drive the highest returns, in this case, high volume but repetitive, lower-value transactions. This long-tail customer segment typically accounts for 80% of transaction volume, but only 20% of an organization’s revenue. By automating long-tail A/R and credit transactions with Apruve, A/R teams significantly increase efficiency with routine transactions and reduce costs by 35% compared to manual credit management. In addition, Apruve reduces DSO to one day.
By streamlining routine and repetitive long-tail tasks, your team can dedicate more time to higher-level activities that will help you move the needle on objectives, whether that is improving working capital management, increasing cash flow, or handling growth in invoicing and customer onboarding. The concept is simple: do what you do best, deploy automation in the part of the process that makes the most sense to help you do it better.
90% of business executives say the use of intelligent automation has created higher-value work for their employees.
Source: Automation and The Future of Work, IBM, 2020
Technology That Complements Your Team’s Strengths
There’s a common misperception that automation equates to a workforce reduction. The fact is, intelligent long-tail automation is a strategy for expanding your team’s capacity rather than replacing FTEs. Long-tail automation can reduce time spent on credit and accounts receivable processes by over 50%.
Here are just three of the many ways using long-tail automation allows A/R leaders to optimize their team’s strengths:
- Automation empowers employees to efficiently deliver high-quality, streamlined service for all customers.
- Long-tail automation frees employees to go the extra mile to resolve an issue, deliver customized service, or simply spend more time speaking with customers. This type of enhanced customer experience sets your organization apart in the marketplace.
- Automation can support accelerated revenue growth by enabling your team to scale A/R operations successfully for increased customer volume.
Long-tail automation can reduce time spent on credit and accounts receivable processes by over 50%.
Source: Unlock Your Team’s Value Generating Potential with Business Process Automation, Apruve, 2021.
Business process optimization with long-tail automation streamlines credit and A/R tasks, and it does much more. It is a transformative strategy that enables business leaders to realign their resources, efforts, investments and culture around the activities that have the greatest ROI for their organization. Learn more by downloading our latest white paper, Unlock Your Team’s Value Generating Potential with Business Process Automation.