Last month, the vice president and global corporate controller for a manufacturing company and I co-presented a webinar on how AR automation had transformed its accounts receivable. This company happens to be a Wind River customer that came to us because its ERP solution did not support accounts receivable automation. You can watch the full webinar at the end of the article.
While we’re very happy to have this client relationship, it occurs to me there are probably many other ERP solutions and B2B software platforms with little to no AR automation capabilities. We’re talking true automation. Not just electronic invoice functionality or other lightweight automation. What’s happening with their customers? Like our manufacturing client, will they need to seek external solutions so they can eliminate manual AR processes? Or will their software providers recognize the opportunities and provide the capabilities their customers seek?
If you are a B2B software provider, here are three reasons why you should consider integrating AR automation in your platform.
The webinar I mentioned was very well attended and the attendees engaged us with numerous questions throughout the session. This suggests that the interest is there and the demand is growing.
Accounts receivable is one of the most critical aspects of a business, and your customers take it very seriously. Either you can deliver the automation they need or they will have to look elsewhere to find it.
Among the benefits our manufacturing client gained with its automated solution:
Imagine delivering these kind of results to your customers. Imagine the impact on your customer retention rates.
Your competition likely does not offer the breadth and depth of AR automation that customers are seeking. This is a tremendous opportunity for you to leapfrog those competitors by providing capabilities that create cash flow and real dollars for customers.
If you partner with the right AR automation solution provider (such as Wind River), you will receive a share of the revenue from the payments processed through the integrated solution. This can be a big deal for you as partnering for integrated AR automation means you’re not developing those capabilities nor are you incurring any costs for development or maintenance. Just revenue coming in every month.
So what’s it going to be? Make your customers call us directly for their AR automation? Or be a hero and proactively deliver the many benefits through your platform? The choice is yours.