Automating Invoice Dispute Resolution & Deductions: The Risks Of Going Without
Automating Invoice Dispute Resolution Deductions
When it comes to maintaining profitable order-to-cash department, ensuring smooth and efficient invoice dispute resolution and deduction process plays key role. Automating the process can involve sizable commitment to Softwaresolutions, with potential pitfalls at every turn. What risks must be considered in making the decision to incorporate automation software into the order-to-cash ecosystem?
For those starting from scratch, there’s the cost of the software to consider. Beyond the cost of the license, there are also up-front costs associated with properly installing and setting up the software. Companies looking to incorporate automated processes also need to factor in the cost of training their staff. Any decisions regarding budget have to be weighed against the potential savings that can be achieved through automation; however, the return on investment time frame for any order-to-cash automation process can vary considerably.
Data is at the heart of all invoice dispute processes, and companies must insure the data they use is error free. Automation processes can help provide clarity and accuracy to the process, but data must still be properly curated and consistently updated. This requires added attention and focus, and can also involve capital investment in storage and infrastructure to ensure data is secure and readily available.
The process of automating invoice dispute resolution and deductions via software can further present few unique challenges. Companies must remain vigilant when selecting software platform, as integration and functionality must be tested to ensure smooth operation and minimal disruption in workflow. The strongest Softwaresolutions have the ability to integrate with existing systems and databases; however, the software may require custom programming for the process to run seamlessly.
On-going maintenance of the automated process is also critical; any software that doesn?t remain current and up to date can functionally and operationally inhibit the organization. Automation software is often the gateway by which the organization interacts with its customers, and if the software doesn?t function as expected, this can lead to customer dissatisfaction.
Finally, just because something is automated doesn?t mean that there can?t be errors. Automated processes come with inbuilt logic and rules engines and, as such, no process is perfect. Tests can and should be conducted both prior to engaging the service and periodically thereafter to ensure the correct outcomes and optimal performance.
Adding automation software to the order-to-cash process can certainly have its advantages, with potential cost savings, improved accuracy, and data consistency all strong contenders. However, any companies thinking of automating should consider the risks before moving forward, with careful consideration given to data, budget, and performance criteria. Automated solutions only work if used correctly and maintained vigilantly, and without proper care and attention all claims to cost savings and reduced risk may remain realized.
