If you are using manual processes for document management in accounts receivable, it can be difficult to get a complete picture of your organisation’s financials. High amounts of unallocated cash and open items make it hard to close month-end financial documents, consume valuable amounts of staff time to resolve, and can ultimately impact customer satisfaction.
The beauty of our accounts receivable solution is that it reduces the amount of unallocated cash and open items that your AR department has on account. We automate the process of matching remittance information with customer invoices, which in turn enables accounts receivable management to see increases in efficiency and customers to enjoy improved service.
With Lexmark’s accounts receivable solution, payment receipts are automatically captured as they arrive from various sources, providing you with real-time visibility of all receipts in process. This enables payments to be immediately applied to the correct invoices and quickly reconciled with customer billings in your financial system. As a result, month-, quarter, and year-end closing go more smoothly.
Reduces manual work and errors by automating data capture, cash application, and exception handling
Reduces AR costs by eliminating data entry or bank fees
Reduces amount of unallocated payments and open items
Decreases days sales outstanding
Handles incoming remittance advices from multiple sources: lockboxes, e-mail, EDI
Improves accuracy of cash application and reduces rework
Provides complete visibility of process and an audit trail
Improves customer satisfaction
Seamless integration with existing financial systems
Smooth integration with existing financial systems gives users single-click access to related AR order and remittance documentation directly from financial applications. Because your staff can work within a familiar environment, user adoption is fast and painless. Learn more about integration with your ERP.