Let the System Do the Work
One of the observations we make when reviewing our customers’ interactions with Billtrust’s Corporate accounts receivable (AR) solution is that they don’t always let the system do the work. Yes, silly as it may sound, it happens. The process of automating cash application may seem impossible, but it can be done if you allow it.
We see all sorts of users continuing to work their open receivables manually and trying to resolve exceptions prior to applying the cash in their Accounts Receivable system. This manual practice is counterproductive, inefficient, and costly, to say the least. Using Billtrust’s automated workflow allows for a cash application team to apply payments quickly through Billtrust with minimal intervention. During the implementation, our Professional Services team works with customers to define matching logic and tolerances to ensure that payments are applied correctly to open invoices.
For all of you guilty of not allowing the system to do its job: ask yourself before you open up that manual search screen again or you have your accounts receivable (AR) system open again doing research – did I allow the system to try it first?