Is AR Having Its ‘Netflix Moment?’
The invoice-to-cash journey is having its Netflix Moment, as Billtrust CFO Ed Jordan likes to say.
Netflix pre-2007 was a manual, paper-based system — relying entirely on manual shipping, manual returns and absolutely no customer self-service. The only way that a customer could get a DVD was to have it mailed to them in a little red package and to return it once the movie had been watched.
Netflix’s digital transformation required two parallel efforts: having the network and infrastructure in place to handle the change and then providing the delivery mechanism into the network.
Jordan believes that the same can be said for the pivot to digital taking place in the accounts receivable space today.