Accelerating Accounts Receivable with Automation from Serrala
Meet the Authors
Key Takeaways
⇨ A significant 69% of SAP organizations are not utilizing automation for invoice payment processing, highlighting a gap in adopting modern technological solutions for accounts receivable (AR).
⇨ Manual workflows in finance create inefficiencies and errors, impeding the effectiveness of finance teams and risking accuracy in essential functions like accounts payable (AP) and AR.
⇨ Serrala's Alevate AR solution offers a cloud-native, scalable alternative that simplifies AR tasks and provides real-time insights, enhancing decision-making and improving cash flow forecasting for organizations.
Finance teams are under significant pressure to execute essential functions with speed and accuracy while also delivering real-time insights to help decision-makers steer the organization. Yet many organizations still rely on outdated manual workflows that stagnate essential workflows like accounts payable (AP) and accounts receivable (AR).
SAPinsider’s recent AI and Automation in Finance Benchmark Research Report found that just 31% of SAP organizations are using automation in invoice payment processing solutions. This means that the vast majority of companies have yet to take advantage of the technological advancements that are currently available to help them streamline these important workflows.
Meeting the Market
Manual processes are one of the biggest stumbling blocks that organizations face on a consistent basis. When companies do not upgrade essential accounts receivable workflows, they not only bog down their workers, but also run the risk of introducing errors, as manual processes have been shown to be less accurate than automated ones.
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To help companies integrate automation and AI into AR, Serrala offers its Alevate AR solution. This cloud-native offering gives users a scalable solution that simplifies important tasks and accelerates payments. Alevate AR further bolsters intelligent enterprises by taking payment information and turning it into real-time insights to help the decision-making process.
Designed to integrate easily into SAP, organizations can use Alevate AR to accelerate payment collections and free up finance teams from manual tasks so they can work on other duties that add value to the organization.
Proof Positive
To help companies understand how to infuse automation into accounts receivable processes seamlessly and effectively, Serrala hosted a webinar sharing the story of M. Brashem Inc. (MBI), a distribution and manufacturing company. The business had struggled with manual workflows and siloed communications.
After partnering with Serrala and taking advantage of its cloud-native AR solution accelerated cash-flow forecasting, MBI was able to benefit from a unified view across networks, setting a new standard for efficiency in the manufacturing industry.
To learn more about this story and the practical applications it can have for other organizations in similar situations who want to move their AR operations from manual to automated, interested parties can view the webinar here.
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