Organizations require their accounts receivable department to work to peak efficiency throughout the day in order to ensure that their financial obligations are being met with accuracy and speed. But with a large amount of data to input and manually review, mistakes can be made that lead to larger problems in the future. It’s for this reason that companies are now looking to automate their accounts receivable department processes with a solution that helps prevent errors in processing and ensures that data consolidation occurs within a timely, predictable process. One highly successful accounts receivable automation solution is offered by Open Scan Technologies, Inc, which pioneered the technology over a decade ago.
Today, Open Scan is one of the leading organizations within the accounting automation field and currently has a 60% market share through its accounts receivable solution, which helps to process billions of dollars in payments for clients each year. More than 20 Fortune 500 companies now trust their receivables management to the Open Scan solution.
As an organization, Open Scan knows that the strength of a company is directly tied to the efficiency of its accounts receivable department. Many organizations still struggle with this key area and often times have to outsource the management of receivables to a specialist financial services company. Whether they’re working through a bank lockbox or manually inputting accounts receivables data in-house, companies often suffer from inaccurate postings and transaction delays that can not only impact credit and collections activities within the company but also affect relationships with customers. The Open Scan system helps to prevent these business challenges through the seamless automation of all receivables processes. The system’s superior accuracy rates are achieved utilizing a number of innovative technologies. One such example is the advanced algorithms designed by the company’s software specialists, which work to intelligently match extracted data to open accounts receivable data to ensure the accuracy of postings.
Accounts receivables professionals understand the importance of maintaining a positive relatioship with their key customers. One of the key operational advantages offered by the accounts receivable solution from Open Scan is that it helps to ensure that inadvertent credit holds on important customers are minimized to ensure that they have greater fiscal flexibility and to secure a mutually beneficial business relationship.
For companies that are yet to upgrade their systems to include the latest automation solutions, their accounts receivable professionals are often too busy conducting administrative duties to conduct a deeper analysis of the company’s financials. By integrating the Open Scan accounts receivable solution, companies can provide accounting experts with more free time to study the organization’s data and discover ways in which to help them further consolidate their expenses and maximize their profits. In addition, by securing this cutting-edge system for their accounting professionals, organizations can directly improve levels of job satisfaction within their department as accounting experts will see their experience and expertise within the area being supported through the use of the latest automation technology.
Open Scan continues to be the leading name within the accounting automation field. Empower your accounting department with the tools to streamline data processing and put your company on the path to future success.