Accounts Receivable function is the most critical since it transforms your income into cash. When this operation is performed manually, it does not contribute to achieving consistent cash flow for the reasons listed below.
Lack of Proper Reminders – Lead to irregular messaging and increases payment time
Time Consuming Activity – AR Teams performing repeated non-productive tasks
Person Dependent Activity - Unplanned delays and absence of a person will impact the process
Manual Report and stats Preparation – Delayed and outdated reporting to Management
No Proper Customer Portal – Clients can respond only through emails.
Accounts Receivable Automation should provide teams with the tools, processes, and information they need to operate more effectively, resulting in consistent and predictable cash flows. Furthermore, the data is collected centrally, allowing for total transparency, auditing, and multi-user collaboration.
Maxyfi is an Accounts Receivable Automation Software that helps organizations improve their cash flow and productivity while recovering their outstanding dues faster. With Maxyfi, AR Team is at its peak efficiency with the perfect combination of automated follow-ups and human-centric workflows.
With Maxyfi, you’ll get
1. Standardized Dunning Process – Industry best Email, SMS and Call Follow-ups and Personalized Templates
2. Real-time Insights, Reports, and Dashboards – Gives you better management insights and control
3. Centralized Communication – Gives you complete audit, transparency, and collaboration.
4. Customer Portal with rich option – Get 2x response from your customers and get paid faster.
5. Process-Oriented Approach – Stable and runs as BAU with multi-user handling feature
Is your team still doing credit controls, accounts receivable, and debtor management by hand?
Your team might have worked like a machine, keeping all of the data in spreadsheets. Most organizations will handle Account Receivable operations through specialized teams reporting to the CFO. Spreadsheets will be used to manage all business activities including invoices. This will cause issues with cash flow and a continuous decrease in the company's productivity.
This affects your company's productivity, gradually slowing output and stopping cash flow generation. Customers, too, prefer to have cash on hand for critical and planned payments. The most important aspect of Accounts Receivable is knowing your position on your customer's Prioritized List.
When looking at Zoho books, which is the most popular accounting and bookkeeping software also has an additional provision to send free reminders via Email. But that’s just the tip of the iceberg in the Accounts Receivable Function.
Accounts Receivable Automation is a lot more and lets' see what it needs:
Configuring your AR Workflows with Email, Phone, and SMS
For Maximum Response, personalize and standardize your AR Dunning messages.
Automate the majority of your conversations, providing your staff more time to focus on high-value interactions.
Human Centric Action and Communication Integrations such as Customer Promise Confirmation and Reminders and Dispute Management
You may easily assign and track your team.
Using the app, you can rapidly generate valuable insights and management reports.
Give your customers the best customer experience possible for faster response and payment recovery.
To summarize, an app that improves the AR Team's efficiency and productivity thereby improving the cash flow!
It's not Zoho books vs Maxyfi, rather it's the winning combination of Zoho books with Maxyfi which gives you the best of Accounting and Book Keeping (Zoho books) with the Best of Accounts Receivable Software (Maxyfi). Plus, it's just 1-Click integration between Zoho Books and Maxyfi.
Doesn't it seem intriguing? Request a demo of how the accounts receivable automation integrates and works with Zoho Books.
Our Package starts at just $ 40 and has a 14 Day Free Trial. Start your AR Automation today.