What are Accounts Receivable?

Monies owed to a business are known as Accounts Receivable (AR) and are the result of goods sold or services rendered. When an item or service is sold by a company to a buyer, credit may be extended and the amount can be paid at a later date. The agreed terms and conditions of the sale vary from company to company and for different services and products sold. Connect manages the information flow in AR with flawless precision.

To execute an Accounts Receivable process, an invoice is typically produced. The invoice may be printed for mailing or produced electronically for sending by email. The customer must pay the amount on the invoice within an established time frame referred to as a credit or payment term.

AR processes are the lifeline of any business but they can be labour intensive, which creates costs, delays, errors and bad customer service.

Connect: Smarter Accounts Receivable Your Way

  • Lower your per-invoice cost
  • Modify invoice templates on demand
  • Send Electronic Invoices and documents
  • Reduce time spent on customer inquiries and disputes

Does this sound familiar?

The Accounts Receivable (AR) staff manually executes all the steps required to produce and distribute invoices, statements and reminders every month.

Do you feel stressed?

Electronic delivery is gaining popularity every year and Accounts Receivable professionals are caught between customers and senior managers, who are pushing for more electronic delivery without having the systems, applications and resources to do it.

Not enough time to do it all?

Human errors, like misfiled or unreadable supporting documents and inaccurate amounts or line items, are inevitable when manually producing invoices. This results in having to allocate most of the AR department’s time and resources to fixing these mistakes instead of preventing them in the first place.

To comply or not to comply?

Compliance considerations sometimes seem impossible to meet. Requirements that sound simple, such as making a change in a template, logging in approvals electronically or meeting a customer’s preference of document delivery, often demand internal projects that cost months of development. That is not always profitable or even possible.

Colin Casey objectif lune video play button

Colin Casey objectif lune video play button

It costs £5 per paper invoice. 53% of organisations still rely on manual processes.

It costs £5 per paper invoice. 53% of organisations still rely on manual processes.

Introducing the Connect approach to smarter Accounts Receivable

Improve other important AR processes:
  • Automate remittance reconciliation
  • Automate your credit application process
  • Produce accurate invoices (reduce collection and disputes)
  • Automate reminders and dunning
Accounts receivable

Compose and Enhance

Using information mined from the original document, invoices are re-engineered in multiple output formats and with colour, barcodes, inserter controls, graphs, targeted information, tables, etc.

Connect

Print, Fold and Insert

Documents are printed, automatically folded and inserted into envelopes.

Connect

Electronic Delivery

Send your invoices electronically, whatever the channel. Attach a PDF invoice to an email, populate a customer portal, connect to an EDI network.

Regardless of the size of your job, you are taking steps toward electronic delivery at your own pace.

Connect

Archiving

Invoices, along with supporting documents, need to be stored for recovery in case they are lost, disputed, or unpaid.

Your ECM system can be populated and indexed automatically with no human intervention.

Business process
Electronic Data Interchange (EDI)
Enterprise Content Management (ECM)

Connect delivers solutions that help you manage customer communications. You’ll no longer have the hassles of communicating directly from ERP, CRM and financial systems.

Got a question?

Book a free phone consultation with one of our document automation specialists.

Case Studies

Connect has been successfully implemented in many organisations, bringing improvements to their document management processes, enhancing customer experience and improving the bottom line.

Connect - The UK's Trusted Business Process Automation Software site

Connect – The UK's Trusted Business Process Automation Software site