Blog: Your AR should give you a competitive advantage.

You are a successful B2B company. Your customers love your products, and their high degree of satisfaction is the reason your business is growing.  But does your invoicing system contribute to that level of satisfaction? Are your customers as happy with your invoicing and accounts receivable process as they with your products?

They should be. Your accounts receivable system can set you apart from your competitors. AR is often an afterthought, but the right invoicing and AR system can contribute to a great customer experience and give you a competitive advantage.

Your system should use the intuitive, web-based designs with which today’s generation of users are most familiar. It should provide customers with self-service online invoice review and payment capability.

A powerful AR portal and platform should deliver flexibility, accuracy, and prompt resolution of discrepancies. It should give your customers an easy way to independently resolve any questions they have. This can be a tremendous time-saver for your AR team and free them up to focus on more productive and profitable activity.

For those cases where special handling of an exception is required, a contemporary system supports exception processing and provides automated dispute resolution to ensure that tasks are followed up on and completed. Visibility into the invoicing process provides AR managers the information they need to intervene and resolve problems to customers’ satisfaction. Your business is suffering if your AR system lacks flexible workflows, and leads to manual workarounds and ad hoc processes by your AR staff to solve common customer problems.

Customers expect solutions unique to their requirements. They look for payment options designed to meet their particular needs and the ability to make payments using both their payment method and payment channel of choice. Accordingly, your AR system should accommodate different needs.

By placing the customer experience at the centre of your AR process you can significantly increase customer satisfaction and loyalty, and easily and significantly improve a  key component of your company’s offering. In short this will help you to Make Customers Happy. And. Get Paid Faster.

John Headshot John McLeod, VP Marketing, VersaPay
John McLeod joined VersaPay in 2014 and is responsible for creating and delivering the company’s brand and marketing strategy. John was formerly Vice President, Marketing at Desire2Learn, a global SaaS based learning solutions provider. During his tenure he was instrumental in its growth from 35 employees to a global enterprise of nearly 900 employees serving 13 million learners. John has been a key member of senior management teams driving growth in both start-up ventures and large technology companies including MetroNet Communications, AT&T Canada and Allstream. John holds a BBA from Wilfrid Laurier University, an MBA from the Ivey School of Business at Western University and a CMA designation.