AR Manager Perspective on BX SupplierConnect

The Accounts Receivable (AR) manager has a number of key responsibilities that all revolve around ways of improving and reporting on all aspects of the Order to Cash cycle.

AR Manager Specific Challenges

  • Getting Invoices paid in line with terms agreed or as close to that as possible
  • Days Sales Outstanding (DSO) often grow beyond agreed terms, eluding to inefficiencies in our AR processes
  • High DSO puts extra pressure on our Accounts Receivable department to engage in more aggressive forms of invoice chasing
  • Traditional printing, posting and faxing of invoices to customers is a time consuming and inefficient process
  • AR teams often have to rework certain manually keyed invoices due to errors and lack of three-way matching
  • Lack of transparency on status of customer invoices and associated payments causes frustration for the AR Manager and the AR team

Benefits of BX SupplierConnect to the AR Manager

  • As BX SupplierConnect automates the invoice transmission process, Invoices get received and approved for payment quicker
  • BX SupplierConnect helps to drive down the Days Sales Outstanding (DSO) figure, allowing the AR Manager to meet DSO targets set by the CFO
  • As BX SupplierConnect improves process efficiencies, Accounts Receivable clerks are far more productive as they are not making continuous calls to chase invoices
  • BX SupplierConnect eliminates the need for printing and posting invoices, reducing costs and improving payment time
  • With BX SupplierConnect’s built in validation, the AR Manager can be confident of a reduction in invoice errors, double input, and time consuming validation
  • AR Managers and the AR team gain total visibility on the status of all invoices – this Increased visibility into status of outstanding invoices offered by BX SupplierConnect saves AR staff time that can be spent on other finance initiatives