How Bring IT Standardized AR Processes to Achieve Greater Efficiency and Improved DSO with Auditoria® SmartCollections
Watch a Replay of “How Bring IT Standardized AR Processes to Achieve Greater Efficiency and Improved DSO with Auditoria® SmartCollections”
Bring IT is a 360-business technology consulting firm that helps customers integrate, customize and deploy the right technology that allows them to run an end-to-end modern value chain. As a fast-growing organization, the AR department felt the growing pains of a small accounting team.
Bring IT needed a technology solution that could standardize processes, prioritize dunning outreach, follow up with inquiries and requests for documentation, and help reduce the number of outstanding invoices.
The manual accounts receivables collections team spent hours on manual, tedious, and repetitive tasks that tied up valuable resources and generated errors and exceptions. With a lack of time and resources, the AR team could only follow up with customers after invoices were past due.
Auditoria SmartCollections enabled the Bring IT accounts receivable and collections teams to streamline the collections processes and improve business metrics such as DSO and bad debt write-offs. With Auditoria’s SmartInsights, the AR could track and manage a range of AR metrics, gaining visibility into their collection’s effectiveness and the overall health of their cash performance.
Learn How Bring IT:
- Automated classification and prioritization of receivables accounts, delivering automated bidirectional dunning based on state-of-the-art ML/NLU technologies
- Reduced the number of 10+ days past due invoices by more than 25% month over month
- Increased efficiency and reduced errors by half, scaling the technology as volumes of transactions increased without the need to add headcount
- Gathered relevant data and metrics, reported in a centralized, dynamic dashboard that provided insights and focus for increased visibility and better decision making
- Mark Brousseau, President, Brousseau & Associates
- Ivana Aguilar, Finance and Accounting Analyst, Bring IT
- Raul Nava, Revenue Controller, Bring IT
- Elaine Nowak, Senior Director, Product Marketing
This panel initially aired on October 25, 2022.