What the report covers:
Accounts receivable (AR) is still erroneously considered a “back office” function at too many organizations, impacting its efforts to modernize through digital technology investments. But slowly, inroads are being made as senior leadership teams recognize the competitive advantage offered by a functionally streamlined, frictionless AR collections process – not to mention the significant benefits to cash flow and working capital.
Moving away from manual, clunky, and slow accounts receivable is about more than just the immediate financial benefits, though. According to survey data in the Strategic Treasurer: Modernizing AR Processing Survey Report, 25% of respondents suffered from fraud due to redirection of payments to steal funds. Mitigating that risk, along with the need for real-time data and visibility into unapplied payments and forecasting, are driving the change to electronic processing.
In the Strategic Treasurer: Modernizing AR Processing Survey Report, you’ll learn AR modernization trends from 200 respondents across both companies and banks, with insights including:
- How the move toward electronic processing is also being driven by the desire for real-time data visibility into payments and cash flow forecasting
- The shift toward electronic for inbound payments is growing — especially RTP and PayPal—but traditional channels still dominate
- AR departments are now much more able to focus on forecasting rather than having to concentrate on collections