The Next Big Thing in A/R Efficiency
One in four A/R departments today do not have enough staff to handle their workload. Their employees are overwhelmed by the demands of daily processing, much of which is repetitive, routine work. It’s the ideal scenario for a technology-driven solution, one that transforms A/R from resource-intensive to resource-efficient. Similar to what automated teller machines (ATMs) did for the banking industry in the 1970s.
The introduction of ATM technology transformed financial services for both bankers and customers. Automation took over high-volume, low-value, repetitive transactions, and tellers were freed to focus on growth-driving work, and bank customers gained simple, convenient, on-demand access to their cash 24/7.
Much like ATMs streamlined small transactions for banks, Apruve intelligent automation streamlines long-tail transactions for the modern enterprise. Every transaction handled manually requires the same amount of effort and time to process. Managing long-tail credit and A/R invoices with Apruve’s intelligent automation can reduce manual effort by +35%. Apruve is like an ATM for A/R, automating lower-value transactions and customers to increase their ROI and reduce the resources needed to manage them.
How Intelligent Long-Tail A/R Automation is Different
Many enterprise organizations have already introduced advanced technologies to improve A/R efficiency. Platforms such as Billtrust and HighRadius automate parts of the A/R process and are designed to assist A/R teams in working more efficiently. Apruve automates credit and A/R for the long-tail customers, eliminating the need for manual intervention by A/R teams.
And, as ATMs did for banking customers, Apruve elevates the enterprise customer experience:
- For long-tail customers: Buying experiences are streamlined as automation standardizes and speeds up all transactions. Customers can take advantage of quick credit approvals, multiple payment options and a self-service portal to view invoices.
- For top revenue-generating customers: A/R teams have the time and resources to consistently provide white-glove service and support expanding relationships with their most important customers.
With intelligent long-tail credit and A/R automation, satisfaction for all customers improves, while back-office inefficiency and overhead are reduced. According to Paystream Advisors, companies that implement A/R automation for mundane tasks can
- Decrease time spent managing disputes from 40% to 13%.
- Increase time spent soliciting customers for payment from 20% to 62%.
Intelligent long-tail credit and A/R automation is the next big thing in A/R efficiency. With Apruve, organizations can slash transactional activities significantly and concentrate more time on meaningful, value-driven conversations with customers.
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.