What is the impact of AI in accounts receivable?

New Billtrust/Wakefield Research study shows 99% of companies using AI in accounts receivable (AR) have accelerated payments, with 75% converting invoices to cash at least 6 days faster. AI also helps improve customer relationships (47%), enhances cash flow forecasting (43%), and enables AR teams to scale operations (82%).

Why do AR teams need AI?

According to a Billtrust/Wakefield Research study, 90% of organizations believe their AR teams cannot scale without AI. With 80% of companies being asked to do more with outdated tools, AI provides necessary accounts receivable automation for tasks like cash application (47%), anomaly detection (47%), credit monitoring (46%), and predictive payment forecasting (46%).

How does AI improve cash flow forecasting?

AI finance tools can analyze historical payment data and customer behavior to create predictive payment forecasts, a top use case adopted by 46% of companies. This provides finance leaders with greater financial predictability and helps shift AR teams from administrative tasks to more strategic work.