Many B2B businesses are facing challenges with their manual accounts receivable (AR) processes, leading to delayed payments, errors, and increased operational costs.
Automating AR workflows through technology can improve financial resilience, operational efficiency, and cash flow, while reducing manual tasks and allowing finance teams to focus on strategic initiatives.
Despite the benefits, only about 24% of companies have implemented dedicated AR automation software, with many still relying on outdated manual processes.
AR automation, coupled with artificial intelligence (AI) and machine learning (ML) technologies, can provide actionable insights, predict cash flow bottlenecks, and optimize customer interactions.