Accounts Receivable Departments’ Tech Implementation Plans
Accounts receivable leaders are enthusiastically jumping on the technology bandwagon—and with very good reason. The AR tech market is burgeoning with new solutions to address the efficiency and process headaches that have plagued receivables for years, and AR is quickly catching up to AP as tech savvy implementers and pioneers.
To find out which tools and technologies AR managers are planning to put into place over the next two years, the AR & O2C Network recently surveyed 111 organizations across a wide spectrum of sizes and industries. The survey revealed that although about 47 percent of AR operations have no plans for new implementations over the next two years (many likely due to budget constraints), the remainder—more than half—intend to launch a vast array of applications tailor-made to make bringing in the cash more quickly, smoothly, and accurately than ever before.What’s in Place Now?
Before looking at the tools and technologies AR operations are planning to implement over the next two years, let’s take a quick look at what they have in place today. The following chart shows what tools and technologies AR operations currently have in place. As one would expect, ERP or Accounting ...