Manufacturing Cloud: Struggling with Dated Collections?

Man using keyboard and pen to do collections
Estimated 3 min. read

The invoicing process of today is primarily based around manual work that requires chasing down payments. Companies start to live in the vicious cycle of Accounts Receivable (AR), continually having to follow up with the majority of their outstanding invoices.

We created EZ-AR™ to help companies utilize automated and tracked emails within custom-flexible journeys that react to the recipient’s behavior. It automatically follows up with your customers until payment is received and allows for a real-time view into the customer’s digital interactions.

It’s essential to dive into the pain points that are slowing your AR agents down.

Pain Points

It’s a familiar story for AR agents. They manually scanning paper, type in the information, and then print and sign paper checks. The invoice gets sent to the black hole of customer communication and results in the customer taking days, sometimes weeks, to pay the invoice. AR agents spend most of their time chasing down their clients for payments via emails and phone calls.

Now repeat that process for 10, 100, or 1,000 invoices. It’s no wonder why the industry average Days Sales Outstanding (DSO) is 42 days. Traditional AR methods are no longer efficient, and the archaic manual processes of AR are slowing down your team with the labor-intense and time-consuming process of collection. We created EZ-AR™; to digitize and automate the archaic business process of AR methods while allowing the required staff 100% visibility via the Salesforce platform.

EZ-AR™ Solution

Corrao Group developed EZ-AR™, the first AR solution built on the Salesforce platform that automates the soul-draining process of collecting invoices. Break beyond the traditional AR processes and quickly generate and send invoices while utilizing the tracking capabilities in Salesforce and Pardot. With your AR automated, you can reduce up to 12 hours per agent per month and reduce your average DSO up to 50%. Reports and dashboards in Salesforce track your invoices by status, expected pay date, and more to keep you updated.

Collection help with EZ-AR

The NEW AR Process

EZ-AR™ is a simple automated process for AR agents. Quickly generate the invoice within Salesforce, along with the necessary data being pulled from the quote or bill associated with the account. The time of completion for producing an invoice with EZ-AR should be no longer than 2 minutes.

Once the invoice is generated, the AR agent can select an automated journey that tracks invoicing activity from the client’s account. If they don’t take any action, you can manually, or automatically, elevate this invoice or choose another automated journey to intervene.

Throughout the journey, the EZ-AR™ users will be able to view all of the invoicing activity, which includes: if they opened the email or not, if they have paid, if they entered an expected payment date, and if they have downloaded the invoice. AR agents are no longer at the mercy of the client’s reporting. Instead, they now have all the control over the client because they have high-level visibility into the clients’ activities taken on the invoice. The process of EZ-AR™ allows the agents to eliminate the traditional guessing methods of Accounts Receivable transactions.

Quicker payment terms help the company retain a low DSO, and the consistency of EZ-AR™ alleviates cash flow related issues.

Manufacturing Cloud

EZ-AR™ is only available for purchase with Salesforce’s new Manufacturing Cloud. Manufacturing Cloud takes the current pain points of the manufacturing industry and turns it into an experience that is flexible in reacting to the customer’s ever-changing demands. Read more about how manufacturing cloud could help your company here:

Please visit our website if you want to learn more about how EZ-AR™ can change your AR processes positively.

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