Make Intelligent Long-Tail Credit & A/R Automation your Competitive Weapon
Workforce efficiency is a primary driver of competitive advantage in today’s economy. Greater employee efficiency has a positive impact on productivity and cost reduction, which in turn generates better margins. In A/R departments, A/R leaders are boosting efficiency and reducing costs with intelligent long-tail credit and A/R automation. Here’s how to make intelligent automation a competitive weapon of efficiency that helps you enhance the customer experience and level up your A/R workforce.
Efficiency that enhances the customer experience
It’s clear that the customer experience is a differentiator in today’s marketplace, but what are customers looking for? According to Salesforce research, 82% of business buyers want the same experience as when they’re buying for themselves. That means self-service options, personalized engagement, and the speed and convenience of retail experiences.
Innovative A/R teams are transforming the buyer experience using Apruve’s intelligent long-tail credit and A/R automation. Apruve creates fast, seamless buying experiences for the segment of customers with high-volume, small-value interactions (also known as long-tail customers.) Apruve decreases Days Sales Outstanding (DSO) to one day and cuts the time teams spend on credit and A/R by 50%.
Apruve intelligent long-tail credit and A/R automation decreases DSO to one day.
With Apruve, organizations work smarter with the resources they have. Getting that time back in the day enables A/R teams to focus on top-tier customers. In most organizations, the 80/20 rule applies to revenue generation: About 80% of revenue is generated by about 20% of customers. With automation handling the routine long-tail transactions, A/R teams can spend more of their workday on increasing top-tier customers’ satisfaction and retention. They shift their focus from purely transactional to revenue-generating and value creation, improving asset utilization and profitability.
Leveling up A/R team talent
Ninety percent of executives whose organizations are using intelligent automation say it creates higher-value work for their employees. With intelligent automation, every employee becomes a valued contributor. A/R employees can use their skills to advance the organization’s success and bottom-line revenue rather than on transaction administration.
This shift enhances the quality of employees’ work experience. Employees feel empowered by managing growth-driving tasks, rather than routine or unchallenging work. Their contribution to organizational success and customer satisfaction can have a positive impact on their own job satisfaction and retention. And when employees are satisfied with their work, they are more likely to give the extra effort it requires to meet challenging customer demands or be adaptable to sudden shifts in the work environment. Automation enables organizations to level up their A/R team talent at a time when 25% of credit departments do not have enough staff to manage their workload.
Intelligent automation is one of the most powerful tools available for companies that want to stand out in the crowded marketplace and catalyze growth. It enables A/R leaders to deploy their team in the smartest, most efficient way possible, and keep their team challenged by and satisfied in their work. Intelligent automation also helps organizations meet business buyer expectations for consumerized interactions. To learn more about optimizing credit and A/R automation for your organization, download Unlock Your Team’s Value Generating Potential with Business Process Automation.