Receivables management is the process of tracking and collecting payments from customers. It is an essential part of any business, ensuring that the company receives money it is owed. Effective receivables management can help improve cash flow, reduce bad debt, and bolster customer relationships.

Automation plays a significant role in receivables management. Businesses save time and money by automating tasks such as invoice generation, payment tracking, and collections, all of which lead, most importantly, to reduced days of sales outstanding (DSO). Automation also helps improve accuracy and efficiency, leading to meaningful reductions in exception processing. For the smallest of companies, automation is less critical. It may not even be on the radar, but automation that streamlines supply chains and bolsters cash flow is essential for companies looking to achieve the next stage of evolution. There are clear benefits to automating accounts receivable (AR). Whereas large corporates have the wherewithal to pursue sophisticated automation plays, small commercial enterprises (SCEs), those in the $10 million-to-$50 million revenue range, and those seeking that next stage of evolution need to catch up on protocols, paper, and price.