Receiving Payment Through ARAutomation And Integrated B2B Software
AR AUTOMATION WITH INTEGRATED B2B PAYMENTS
The first step in the process is to download, install, and configure the Order to Cash software. Companies should point software users to the necessary documentation and resources to familiarize them with the platform and initiate software training. Make sure that staff understand the various functions of the software, including accounts receivables automation and integrated payment features.
Step 2: Establish the connectionsTo enable Accounts Receivable Automation, the software needs to be integrated with the companies existing systems, particularly the customer database and invoice system. ARA then connects the customer cloud, CRM, and accounting systems to eliminate redundancies, transferring customer and order information from the customer database to the invoice system.
Step 3: Integrate payment methodsThe next step is to integrate payment methods into the Order to Cash software, such as ACH transfers, online credit cards, and bank transfers. This requires combination of payment gateways and banks. The goal is to ensure that the most popular payment methods are available.
Step 4: Test the systemOnce all connections are established, configure ARA to test the system before deploying it in live production. This testing process is helpful in determining any issues with synchronization, accuracy, and connectivity before going into full operation.
Step 5: Go liveOnce the software is successfully tested, the Order to Cash system can be moved into production and rolled out to other users. At this point, the accounts receivable automation is ready to use, allowing the business to receive payments quickly, securely, and efficiently.
An Order to Cash technology suite that includes ARA and integrated B2B payments is the optimal solution for executives looking to widen their net of payment methods, reduce errors, and automate their accounts receivable process. The streamlined and centralized platform reduces human resources and payroll costs, and allows for faster response times for customers. Following this guide will enable businesses of all sizes to set up an Order to Cash solution with ARA and integrated B2B payments and reap the multiple benefits of automating accounts receivable processes.
