Reshaping A/R Collections Like a Pro
There is a major shift underway across A/R collection departments. CFOs now expect more from their teams than the day-to-day tasks of monitoring overdue invoices and resolving disputes. Instead, many teams now have to consider strategic activities—collections being chief among them.
Collections teams spend roughly half their time chasing clients and sending invoices, usually by way of inefficient and manual processes. But as collection teams are expected to do more sophisticated tasks in addition to their existing tasks, digital transformation is a must.
Collection teams are overburdened with increased job responsibilities and inefficient procedures. Companies that onboard digital tools that execute manual tasks and streamline more complex projects, is a win-win for all.
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