Defining Accounts Receivable automation
Accounts receivable (AR) automation software helps companies streamline their customer invoicing and payment processes, ensuring that invoices are issued correctly so as to avoid delays due to missing reference numbers or delivery to the wrong recipient.
One of the technologies behind AR automation is called robotic process automation (RPA), a basic type of automation that combines artificial intelligence and machine learning.
RPA is a popular technology used to automate tedious and time-consuming finance processes. RPA software can automate accounts receivable processes such as creating invoices and other documents based on company data and templates, batch printing and sending documents and emails, sending electronic reminders at set dates, and reconciling payments.
In this post, we'll discuss several reasons you should implement accounts receivable automation in your finance team. Among other things, we'll discuss benefits such as improving security compliance, saving time, and saving money.