How to supercharge cash application team performance with comprehensive reporting

Blog | February 4, 2022

Reading time: 3 min
When finance leaders focus their cash application team’s effort on driving cash app efficiency improvements, they can increase cash flow and supercharge their AR team’s performance with comprehensive reporting.

“If you can’t measure it, you can’t manage it.” The proverbial quote by Peter Drucker holds true today. In this post, we’ll explore how finance leaders and accounts receivable (AR) managers can track cash application team performance with comprehensive reporting.

By focusing your cash application team’s effort on driving cash application efficiency improvements, you can boost cash flow and supercharge team performance.

woman pointing at computer showing team billtrust cash application report

How can I track my cash application team’s performance?

Every week, accounts receivables managers are under pressure to apply incoming payments to open invoices as soon as possible so their firms can access cash and replenish their customers’ credit faster. A few common use cases for these reports include:

  • Perform reconciliation and investigate specific payments and remittances
  • Track how individual cash application team members are processing individual envelopes
  • Analyze historical trends of how match rates are improving over time 

With these three cash application reports, you can ensure you’re tracking the right metrics and have accurate information readily available so that your team is achieving peak performance.

Three cash application reports to supercharge your team’s performance

The three reports that can supercharge your cash app team’s performance discussed in this article are reconciliation reports, team performance reports, and system performance reports. 

Apply Cash Faster with Reconciliation Reports

At any given time, top-performing accounts receivable (AR) leaders have visibility of the number of envelopes processed, any variances between amounts paid and invoice amounts, and overall active or rejected payments. Imagine how productive you can make your team if all payments across the cash application workflow are visible within a single report. The report can enable you to quickly pinpoint inefficiencies, and drill down into specific short payments and overpayments – saving your staff hours of investigation time.

Reconciliation reports

Measure Team Performance with Team Performance Reports

AR teams that manage cash application manually don’t typically have real-time visibility of each team member’s cash application actions and productivity such as number of envelopes processed, envelopes processed per hour, and manual actions performed.

A User Statistics Report below gives finance leaders a high-level snapshot of how many envelopes are undergoing review and how much average time is spent per envelope across your entire team. Benchmarking performance can help you monitor how efficiently your accounting or finance team is processing cash application exceptions.

Team performance reports

Monitor Historical Match Rates with System Performance Reports

As you optimize your reconciliation, it’s helpful to see the impact of your changes on overall match rates. Historical reports such as the Match Envelope Trend Report can demonstrate how your match rates are trending over time. Ideally, as you automate cash application with new technology, your match rates will improve over time and require less manual intervention – boosting your team’s performance. Tools like Cash Application 10.0 that extract 100% of electronic remittances can help supercharge your straight-through processing rates.

Match envelope trend reports

A Comprehensive Reporting Guide for finance leaders

The reports mentioned in this blog are now available with Billtrust Cash Application 10.0, a new solution with robust reporting capabilities that provide finance leaders clear visibility of cash application team and system performance so that they can supercharge their team performance.

Check out our guide to comprehensive reporting for cash application teams solution to learn more.