PayTrace On: Why AR automation is a top embedded finance requirement for B2B companies

by May 16, 2024Dynamics add on products, Expert advice0 comments

Introduction: Today, we have a guest blog post from PayTrace. PayTrace is a leading provider of payment processing third party add-on software for a wide variety of ERP systems, including Microsoft Dynamics. In this article, they share how AR automation helps businesses get paid faster and reduce costs.

AR automation is a data-driven solution that delivers real results for businesses of all sizes, but especially for B2B companies who want to do more from within their existing ERP.

Businesses that automate their AR processes experience a 63% reduction in the time it takes to process payments and can achieve cost savings of up to 29%.

And what company couldn’t benefit from faster payments and reduced costs? But B2B organizations, in particular, stand to gain even more. Let’s explore why AR automation is a top embedded finance requirement that B2B companies can’t live without.

AR automation: the path to B2B excellence

Increased Visibility to Cash
B2B companies rely on accurate cash flow forecasting to make informed decisions. With AR automation, you get real-time visibility into receivables, which means more accurate forecasting and better cash flow insights and management.

Customized Payment Terms
B2B transactions often involve complex payment terms to meet each client’s needs. With AR automation, B2B companies can easily customize payment schedules, discounts, and terms, ensuring a personalized customer experience that helps build strong relationships.

Automated Payment Reminders
AR automation takes the guesswork out of follow-ups by sending automated reminders and notifications to customers with outstanding invoices, helping B2B companies maintain consistent communication without manual steps.

Integration with ERP Systems
For B2B companies, keeping your AR processes and ERP systems aligned is essential. AR automation solutions seamlessly integrate with your other platforms, providing a clear view of customer interactions, days-sales-outstanding (DSO) and payment information.

Improved Customer Satisfaction
According to Deloitte, when businesses embrace AR automation, they see a 40% increase in customer satisfaction levels. Your streamlined processes and convenient digital payment options provide your customers with the simple, consumer-like, payment experience they crave.

Accelerated Payments
Make it easier for your customers to pay, and you’ll get paid quicker–it’s just that simple. Companies utilizing AR automation see a remarkable 30% decrease in outstanding balances.

The Cost of Delay: Why Waiting Isn’t an Option

Every day spent burdened with manual processes is a day in lost potential revenue. When you harness the power of AR automation, you can see a staggering 90% improvement in data accuracy.

Ready to take your B2B operations to the next level? Streamline your processes, boost efficiency, and drive bottom-line growth today when you explore the possibilities of AR automation.

Visit PayTrace today

Specializing in payment automation and credit card processing, PayTrace provides solutions for accounts receivable, interchange optimization, surcharging, and more. When you accept payments with PayTrace, you can:

  • Accept payments anywhere: through your ERP, online, in person, or on the go.
  • Automate your invoicing processes: reduce Days Sales Outstanding (DSO) from an average of 28 days to less than a week.
  • Save on credit card processing costs: built-in features that help lower your credit card processing costs:
    • Interchange optimization automatically helps qualify B2B/B2G transactions for reduced Level II and III card processing fees.
    • Surcharging lets you recover credit card processing fees through an added industry-compliant surcharge.
  • Get the support you need: enjoy free, US-based, 5-star support to ensure your success.

With 20 years of experience, PayTrace is a trusted solution for 40,000 businesses in a variety of industries, including healthcare, manufacturing, construction, e-commerce, professional services, and more.

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