Upgrade Your Accounts Receivable Process

If you’re like most B2B vendors, distributors and manufacturers, you’ve probably been facing higher operational costs and lower productivity when it comes to collecting payments. From what we’ve seen, the primary cause has been that many businesses are still using legacy products to manage their accounts receivable (AR) process.

These antiquated systems don’t provide you the modern tools and metrics to adequately track payment collection or resolve incorrect invoices. In the end, many businesses are seeing an increase in their Days Sales Outstanding (DSO) and a lengthened dispute resolution process because of it.

Wind River’s AR Automation tools can help you improve your entire AR process and ERP systems. We understand the weaknesses of many of the systems you’re currently using and can guide you on how to leverage our more specialized tools.

The Basics of AR Automation

With our AR Automation tools, you can:

  • Create and deliver invoices
  • Collect payments faster and more efficiently from customers
  • Reduce administrative costs through automation
  • Better engage with clients about collections, deductions and dispute management
  • Apply received cash to specific invoices
29%

Average reduction in DSO after six months of use

2.2x

Amount of extra accounts the average AR professional can manage with AR Automation

80%

Amount your processing costs could be reduced by

How It Works

There are three main features that come with AR Automation.

  1. Invoice Delivery – Create invoices electronically and then send them via email or physical mail. You can also set custom payment reminders for your customers.
  2. Payment Portal – Provide a custom payment portal for your customers on your website that they can access with one click. Within it, they’ll be able to access past, current and future invoices or statements. You’ll be able to collect ACH, credit card or debit card payments. You can even offer payment plans, multiple or partial payments and autopay. There’s even the ability to engage directly with your customers via a communication portal as well.
  3. Collections Workflow Manager – The equivalent of a CRM for accounts receivable professionals, the Collection Workflow Manager will allow you to track and optimize your workflows and increase your overall AR efficiency.

See how AR Automation can streamline your process and save you money.

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