Is Your A/R Team Keeping Up with Your B2B Buyers?
How well do you know the minds of your B2B buyers post-COVID? With the shift to digital-only during the pandemic, the trend in consumerization of the B2B procurement experience took hold. Your organization could be falling behind your customers’ expectations. Here’s what B2B buyers are thinking:
80% of B2B decision-makers say they prefer digital self-service or remote human interactions when ordering and reordering.
36% of B2B buyers say their biggest frustration this past year with buying online is that purchasing takes too long.
$50K-$500K/order is the amount B2B buyers are willing to spend per order using end-to-end digital self-service or remote human interactions.
If your A/R team hasn’t automated credit and A/R processes, now is the time.
Meet the Market with Intelligent Long-Tail Credit & A/R Automation
In the 1970s, ATMs transformed the banking industry by automating high-volume, repetitive, lower-value transactions. Customers gained fast, convenient access to their cash, 24/7.
Many of today’s B2B buyers are looking for that simple, convenient online experience. And like banks, many large enterprises have a large customer segment (called the long-tail) characterized by routine, repetitive, lower-value transactions. It’s the classic 80/20 rule – 80% of customers are driving only 20% of the business.
Apruve is like an ATM for A/R. Reducing the cost to process lower-value transactions through business process automation.
Like ATMs, Apruve is transforming long-tail credit and A/R processes with intelligent automation, allowing large enterprises to reduce the time and resources needed to manage credit and A/R for their smaller, long-tail accounts. The Apruve Payment Platform creates a standardized and simplified buying experiences that meet customers’ expectations for:
Rapid credit approvals
Multiple payment options
Multi-lingual invoices and emails
Self-service control through buyer portals
With the high-volume, lower-value transactions handled by Apruve's intelligent automation, A/R teams can concentrate on servicing the 20% of customers that generate the most revenue. As ATMs did for tellers, Apruve refocuses the role of A/R teams on relationship-building activities and value-adding goals.
3 Ways Apruve Advances Large Enterprise Credit & A/R
Intelligent long-tail business process automation delivers tangible process improvements and measurable results. With Apruve,
Days Sales Outstanding (DSO) reduces to 1 day. That’s not an empty promise; 1-day DSO is standard for all long-tail customers – it’s how our platform is built.
Fixed costs reduces by 30%-50%. With 80% of invoice volume managed without manual work or intervention, your A/R team’s time and effort cuts nearly in half and your back-office overhead can decrease significantly.
Credit decisioning is off your plate. Apruve can prequalify existing long-tail B2B buyers and underwrite new buyers in as little as 3 minutes. It’s a fast and easy process for B2B buyers and it lifts the credit decisioning burden from A/R teams. In addition, Apruve manages all outreach including collections to those long-tail customers via the buyer portal.
Take Apruve's Long-Tail Credit & A/R Challenge
To learn more about A/R efficiency and how automation fits into your organization, download our whitepaper: Transforming Credit and Payments Through Intelligent Automation or to take the Apruve Long-Tail Credit & A/R Challenge, where if we don't uncover an ROI of 25% or more within your company, we will donate $5000 to a charity of your choice click here.