CIO OPINION
Overnight we saw a demand to apply the same cloud answers for AR that had already been applied to other areas of the business .
digital can provide the kind of consistency and visibility to support smart and caring decisions around payment terms .
Such decisions become critical in building loyalty and even supporting the up-sell when challenging economic conditions improve . With COVID , businesses struggled that weren ’ t before and AR teams that were able to respond in ways that communicated in a more measured , circumspect and gentler way reduced the stress and likely built the long-term value of the relationship . This will pay dividends in 2021 and beyond , as will the accompanying digitization of payments that will help improve the speed of paid invoices and overall cashflow .
The net effect of this movement toward a more digitized AR will be a recognition within many businesses of the central role played by the function and its potential to support other functions , like sales , as a front-line rather than a back-office connection to the customer . A truly relational AR will also become a brand builder , especially important as organizations seek to find ways to stand out in an increasingly competitive landscape . p
Karen Stephen is COO of SurePayd and has a background in the space where technology and community engagement meet .
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