Five Steps For Driving Successful Digital Transformation in A/R Shared Services
Digital transformation is the next wave of disruption that could fundamentally change the way shared services operate.
It is defined as “the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers” or in simpler words, it is driving the evolution from “cost killers” to “value drivers”.
Transforming accounts receivable (A/R) is the key to making business move faster in this slow economy.
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Digitizing your A/R process can save you money, but it can also speed up your collections, reduce late payments, and reduce 70% of the repetitive tasks taking up your team's time.
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Customized enterprise resource planning (ERP) systems, manual, paper-based processes (that are slow, inflexible) cost millions in-process waste. These broken processes hold your team back by limiting capital efficiency and liquidity and decrease your time, revenue, and efficiency.