Improve receivables management and reduce accounts receivable days sales outstanding with OnBase
Combining data capture technologies with centralised content management software empowers the accounts receivable department to process and review critical documentation faster. With OnBase AR solutions, manual data entry is turned into automated data updates throughout your systems and scattered, inaccessible documents and data becomes centralised receivables management. Staff members devoted to data entry are then suddenly available and empowered to focus on higher value tasks, such as customer service. OnBase also improves process management and tracking, allowing managers to gain visibility into the entire accounts receivable cycle.
“With OnBase, we’ve seen drastic DSO improvement – we save $200,000 annually. Staff now spend more time on deduction audits and service. They focus on tasks that bring dividends.” Jim Derrick, IS manager, Central Services – Applications, Bush Brothers and Company
Benefits of OnBase AR Solutions
OnBase can improve many processes in the order to cash cycle, including
- Contract Management: Streamline creation and review of customer contracts and store them in one, central location for amendments and contract lifecycle management.
- Sales order processing and fulfillment: OnBase automatically identifies and extracts order information and sends it into your order management and accounting systems.
- Billing: OnBase captures created invoices directly from your ERP, links them to related documents, such as proof of delivery documents, and makes them instantly accessible to customers.
- Dispute resolution: OnBase centralises all documents associated with a given account, for easy, instant access, even from a mobile device or directly from your accounting system speeding resolution and ultimately reducing accounts receivable days sales outstanding.
- Payment processing: OnBase automatically extracts and validates remittance and check information, posts payment information to your accounting systems and creates Image Cash Letters (ICLs) for simple, electronic deposit.
- Process management and tracking: With automated workflow and reporting capabilities, management gains insight into staff workloads, open invoice distribution and payment processing.
And, with ShareBase by Hyland, easily and securely share checks, orders, and remittances with customers and other third parties to speed processing even further. The natural interaction between ShareBase and OnBase allows you to share files automatically as part of the accounts receivable solution, regardless of whether recipients have access to OnBase.
Contact us to learn more about how OnBase can elevate your AR processes and empower your AR staff.