Even if your finance department has a dedicated collections team, the manual processes involved in chasing payments can take valuable resources away from more meaningful work.
Past due invoices are a challenge for many businesses. Over one-third of invoices in the U.S. aren’t paid on time. And it’s not always the customer’s fault–a whopping 11% of invoices are unreceived or get lost in the spam box.
The good news is that there’s a way to bypass many of these common challenges around payment collections: Automation.