The 5 Accounts Receivable Nightmares
Managing customer invoices is not always easy. In fact, it can be quite the opposite. Considering that 70% of businesses send between 1,000 and 10,000 invoices per month, it’s easy to understand that this can quickly become a real headache for most organizations that haven’t had the chance to optimize and automate all their invoice-related tasks.
As an employee in the accounts receivable department, chances are your day-to-day nightmares look something like this:
- You inadvertently send the wrong invoice to the wrong client and spend the entire day on the phone explaining to one why they can’t benefit from the other’s preferential rate.
- Your client claims the payment is late because they never received the invoice. You know very well that it’s probably under a pile of papers somewhere on their desk, but you end up scanning and resending a copy in the midst of your month-end rush.
- Your business is going very well and new clients are always knocking at your door, but you don’t feel like celebrating with your colleagues because you’re the one who’ll have to process more invoices, but without more employees to help you, of course.
- A client requests a copy of the purchase order and delivery slip attached to their invoice. While you waste your lunch hour searching through filing cabinets, you can’t help but think that their accounts payable department should be better at keeping their supporting documents.
- The printer stops working in the middle of printing account statements. You wait for technical support all afternoon and then spend the evening starting all over again.
Does any of this sound familiar?
There are solutions available to put an end to these nightmarish situations and optimize your everyday work.
Contact us to learn how you could improve your accounts receivable processes through simple, easily implemented actions.