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The Power of AI in Credits and Debt Collections | Payference

Expanding the volume and risk of collections can be adverse on cash flow and working capital. The hesitation to progress out of manual processes creates additional issues in operational productivity and performance. And continuing to grow linearly is not practical or attainable at today’s costs. 

By integrating AI in credits and debt collections process, Payference has constructed an automated workflow solution that keeps you informed on cash flow and risk issues. Accurate forecasts are constructed by dynamic artificial intelligence implementation. 

Solutions, like Payference, can not only provide cash flow forecasting but also a wide range of tools and customizations that give greater insight and allow essential information to be extracted immediately. The system’s customization lets users find predicted invoices for different time ranges, enabling better cash flow forecasting. Payference is intelligent and automatically sends low-risk clients engaging emails so the finance department can focus on the high-risk ones.

A refined dashboard lets Payference users track data sources easily to detect risk and establish collection strategies. The cash application procedure can be optimized with intelligent transcription and data identification to boost processing efficiency. It automatically pulls data from ERP systems, providing an improved overview of a company’s credit and collections operations and lets users instantly track invoice status and find relevant documentation straight from the platform, giving your team ample information in real-time.

Payference allows AR team members to reach their goals quicker, make invoice payments more user-friendly, and more efficient. Payference has also created a payment portal that arranges information so clients can “pay with a single click.”  These automated processes, such as AI cash flow forecasting, free time for collections teams to direct their attention to more urgent customers rather than spending long periods of time completing manual tasks. 

Your company can reap all the benefits of advanced collections and cash forecasting technology and keep your overall costs of ownership lower. Renovate your credit-to-cash process to boost your cash flow today!

Would you like to discover how businesses like yourselves can achieve a decreased DSO and accelerated payments, generating over 10x ROI using Payference?

Book a meeting to schedule your free consultation today!