AR Automation and Remote Work: Enabling Seamless Operations in Distributed Workforces
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13 May, 2024
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3 min read
As accounts receivable (AR) automation emerges as a game-changer in the realm of 'traditional' accounting processes, its impact is further underscored in the realm of remote work, which has firmly established itself in contemporary business practices.
While AR automation has numerous advantages, the benefits for distributed teams genuinely stand out. From streamlined workflows to optimised cash flow, the ease of communication and transparent collaboration are too significant to simply keep on the shelf.
Here's how AR automation enhances the customer experience and drives efficiency and growth, particularly for remote teams.
Let's dive in!
Challenges of Managing AR Processes in Distributed Workforces
Remote work has become no more strange than working a nine-to-five in-office job. What was once seen as a novelty or temporary solution is now simply normal. However, this doesn't mean that it doesn't come without its fair share of challenges, especially when it comes to managing accounts receivable processes. Moreover, the challenges (and risks) are magnified and intensified when tedious manual AR processes still plague your business.
Some of the most significant challenges include:
Fortunately, with the advent of AR automation, these challenges are no longer a necessary part of the remote work environment, bringing a much-needed sense of relief and allowing companies to operate smoothly and efficiently, even in distributed workforces.
Opportunities and Advantages of AR Automation in Remote Work Settings
Having the right tech stack is critical when it comes to working in a distributed team. This is particularly crucial regarding AR processes, which are renowned for siloed departments and cash flow bottlenecks. This is where AR automation taps into the root of the cause. Some key capabilities that benefit distributed teams include:
Effortless communication and collaboration
Promoting clear and easy communication is critical regarding timely payments and AR bottlenecks. The right AR automation solution limits the amount of back-and-forth communication required to complete tasks by automating communication to customers based on required selection criteria and providing in-platform communication options.
When there is a need to collaborate with clients on cross-functional tasks, users can benefit from responding to requests and providing feedback to tracked queries, ensuring task completeness. From a business continuity perspective, AR automation tools can also provide detailed reports with real-time information on email delivery status and communication tracking, with insights into which accounts have been delivered and which email addresses need to be updated.
Easy document delivery and archiving
Manual AR processes often involve a lot of paperwork. However, when switching to AR automation, businesses streamline processes and can completely eradicate the need for on-site premises storage. Automation solutions immediately distribute documents to required recipients in bulk and segregate them into groups.
Additionally, company departments have quick access to current and historical documents and information while archiving documents as per compliance requirements for the legislative period.
Facilitate remote collaboration with System1A
At System1A, we remove the burden of tedious manual AR processes for you and your team, allowing them to focus on value-driven activities (in the office or elsewhere). Effortlessly facilitate remote collaboration and seamless operations for distributed finance teams with features such as cloud-based accessibility, real-time data visibility, and collaborative workflows that empower finance professionals to work efficiently and effectively regardless of their physical location.
<Experience System1A for your Company>
While AR automation has numerous advantages, the benefits for distributed teams genuinely stand out. From streamlined workflows to optimised cash flow, the ease of communication and transparent collaboration are too significant to simply keep on the shelf.
Here's how AR automation enhances the customer experience and drives efficiency and growth, particularly for remote teams.
Let's dive in!
Challenges of Managing AR Processes in Distributed Workforces
Remote work has become no more strange than working a nine-to-five in-office job. What was once seen as a novelty or temporary solution is now simply normal. However, this doesn't mean that it doesn't come without its fair share of challenges, especially when it comes to managing accounts receivable processes. Moreover, the challenges (and risks) are magnified and intensified when tedious manual AR processes still plague your business.
Some of the most significant challenges include:
- Delays in preparing statements and distributing documentation
- Hurdles to accessing needed supporting documentation
- Manual document linking and retrieval
- Manual reporting and KPI tracking processes
- Operational inefficiencies that lead to mistakes and miscommunication between staff and customers
- Increased DSO due to lagging collection processes
- Increased risk of inaccuracies in cash flow forecasting
Fortunately, with the advent of AR automation, these challenges are no longer a necessary part of the remote work environment, bringing a much-needed sense of relief and allowing companies to operate smoothly and efficiently, even in distributed workforces.
Opportunities and Advantages of AR Automation in Remote Work Settings
Having the right tech stack is critical when it comes to working in a distributed team. This is particularly crucial regarding AR processes, which are renowned for siloed departments and cash flow bottlenecks. This is where AR automation taps into the root of the cause. Some key capabilities that benefit distributed teams include:
Effortless communication and collaboration
Promoting clear and easy communication is critical regarding timely payments and AR bottlenecks. The right AR automation solution limits the amount of back-and-forth communication required to complete tasks by automating communication to customers based on required selection criteria and providing in-platform communication options.
When there is a need to collaborate with clients on cross-functional tasks, users can benefit from responding to requests and providing feedback to tracked queries, ensuring task completeness. From a business continuity perspective, AR automation tools can also provide detailed reports with real-time information on email delivery status and communication tracking, with insights into which accounts have been delivered and which email addresses need to be updated.
Easy document delivery and archiving
Manual AR processes often involve a lot of paperwork. However, when switching to AR automation, businesses streamline processes and can completely eradicate the need for on-site premises storage. Automation solutions immediately distribute documents to required recipients in bulk and segregate them into groups.
Additionally, company departments have quick access to current and historical documents and information while archiving documents as per compliance requirements for the legislative period.
Facilitate remote collaboration with System1A
At System1A, we remove the burden of tedious manual AR processes for you and your team, allowing them to focus on value-driven activities (in the office or elsewhere). Effortlessly facilitate remote collaboration and seamless operations for distributed finance teams with features such as cloud-based accessibility, real-time data visibility, and collaborative workflows that empower finance professionals to work efficiently and effectively regardless of their physical location.
<Experience System1A for your Company>
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