This short wellness test will help you make a quick and accurate ‘health assessment’ of your cash application processes. Find out in 6 questions how many common symptoms you could be suffering from!
It’s an age-old saying, but cash really is the lifeblood of any business. It’s what enables businesses to cover their day-to-day costs and ultimately keep trading. It’s also essential to fund investments and ensure future growth.
So it’s obvious that cash should be collected from customers as quickly as possible, but it also needs to be allocated to customer accounts quickly to maintain an accurate view of your accounts receivable (AR) situation and ensure the smooth running of of your entire order-to-cash process.
At a time when many AR teams are focused on collecting cash, it can be easy to miss opportunities to identify and address shortfalls in their cash allocation processes.
This short test will help you make a quick and accurate ‘health assessment’ of your cash allocation processes. Find out in 6 questions how many common symptoms you could be suffering from!
If your business could benefit from improving its cash application process, it might be time to consider automating. Esker’s Cash Application automation solution allows businesses to quickly eliminate routine tasks in the cash allocation process by auto-matching all types of incoming payments to open invoices.
Additionally, Esker’s recognition engine intelligently captures remittance data to provide 3-way matching and accurate reconciliation. As a result, team members can focus on exceptions, cash is allocated faster, and businesses benefit from optimised cash flow, receivables visibility and collections efficiency.
If you’re interested in finding out more about how automation can improve the health of your cash application processes, contact us today!
