The advantages of accounts receivable (AR) automation are clear: It’s a faster, less expensive and more reliable alternative to manual invoicing. But lack of clarity has many companies uncertain of how or where to start. After all, moving every customer to automated invoicing or custom-designing different processes for specific customers aren’t exactly recipes for success. So what is the best option?
In this webinar, we will discuss the results of the AR Automation Study by The Institute of Financial Operations. Co-sponsored by Esker, the comprehensive survey inquires a group of AR professionals in order to gain insights into critical operations metrics, emerging trends in automation and the general consensus about moving from a paper-based process to cloud-based automation solutions.
Industry Insights & Emerging Trends in Accounts Receivable Automation
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Accounts Receivable
Industry Insights and Emerging
Trends in AR Automation
Results of IFO’s 2013 AR Automation Study
Esker 2013 www.esker.com ACCOUNTS RECEIVABLE AUTOMATION
Howie Hahn June 2013
Webinar Hashtag: #quitpaper
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Howie Hahn
Senior Sales Engineer
Esker
Speaker
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Global headquarters in Lyon, France
275 employees, 25+ years of field experience
80,000 customers, over 2.5 million users
Over 480 million pages processed and counting …
50,000+ SaaS users, 4,000 SaaS customers worldwide
Order-to-cash and procure-to-pay automation leader
Distributors in over 50 countries
Awards and Accolades
Highlights
Finalist for “Best Document Management Product or Service”
Included in “Cool Vendors in Knowledge Support” by Gartner
Patented received for Esker DeliveryWare Rules Engine
They “Quit Paper” with Esker
“Esker does the best job at linking capture with DOM. It considers
capture as important as creation and delivery and brings these together
to address pain points in sales order processing and invoice
management.”
Esker Overview
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• Survey Overview
• About the Respondents
• Survey Results
• AR Automation
• Conclusion
Agenda
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• Key questions to answer:
– How are companies sending out invoices?
– What does it cost to produce and send an invoice out?
– What are the key challenges of customer invoicing?
– What are the obstacles to automating AR?
– Are companies using third-parties for customer invoicing?
– What, exactly, are the key trends?
Survey Overview
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• Survey presented to several thousand AR professionals
– A total of 63 respondents completed the survey
– All of the respondents answered every question
• Approximately 20 questions
– Some could be answered with a single click
– Others required respondents to retrieve data
• Respondents were given several weeks to take survey
Survey Methodology
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Annual Revenue
What is your company’s annual revenue?
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Polling Question
How many total invoices does your company send out
each month?
– Fewer than 1,000 per month
– 1,000 to 5,000 per month
– 5,000 to 10,000 per month
– More than 10,000 per month
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Invoice Volume
How many total invoices does your company send out
each month?
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Industry Insights and Emerging Trends in AR Automation
45 minutes
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Editor's Notes
While there is a lot of available information about AP automation and its benefits, insight into the customer invoice automation process is limited. Several questions come to mind around the accounts receivable process…As we go through the findings, we will address each of these key questions.How are companies sending out their invoices?What exactly are the costs both hard and soft to producing and sending out an invoice?What are the challenges of customer invoicing (Road blocks)?What are the obstacles to automating AR?Are 3rd party vendors being used for sending out invoices?What exactly are the trends?
A survey was sent out with 20 questions and was arranged so it would be easy to send out.63 respondents completed the survey
As you can see from the graph, the respondents are pretty evenly distributed among smaller, mid and large size.38% have revenue under $100 million35% have revenue from $1 Billion to $100 million37% are above $1 Billion in revenueThis pretty much covers all companies I think….
[Poll the Audience]
As you can see from the Chart, 59% of the respondents send 5000 invoices out a month with 27% sending less than 100041% sending out 5000+ with 32% sending out more than 10,000 invoices a month, that’s a lot of invoices.