MANAGING ACCOUNTS RECEIVABLE WITH INVOICE AUTOMATION
                     MANAGING ACCOUNTS RECEIVABLE WITH 
INVOICE AUTOMATION
 
 
INTRODUCTION 
► Accounts Receivable is a structure used by businesses to keep track of 
any money owed to them by customers. 
► Accounts receivable process has a key role to play, in the success of a 
company's bottom line. The invoice collection process must be taken 
as seriously as the core business process.
► The process should be organised in such a manner, that there are no 
leaks in the system and the payments are duly processed on time. 
1.Saves Time
2.Faster and Accurate Invoice Data Entry
3.Offers Detailed Spend Analytics
4.Delivers Improved Invoice Processing Accuracy
5.Increased Productivity
6.Reduced Invoice Processing Costs

BEST PRACTICES IN AUTOMATION OF ACCOUNTS 
RECEIVABLE PROCESS 
AUTOMATION OF THE INVOICE 
SENDING PROCESS
► In case of both B2B and B2C enterprises where a large number of 
invoices have to be sent on a regular basis, an automated system sets 
up a recurring profile to send out these invoices without the need of 
manual creation and sending of invoices
► Auto-bill profiles are setup, to ensure that the payment process is 
automated as well. A predetermined invoicing and payments schedule 
is setup, to ensure that invoices are received by the client in a timely 
manner and the payments keep flowing in, on time, as well.
THE INFORMATION CARRIED ON 
THE INVOICE
► An automated receivable process must ensure predefined information 
to be added on the invoice. Each transaction must have the complete 
details such are the order information, the client information, the 
purchase order number, the estimate reference, the due date and 
other terms and conditions.
►  An invoice verification must be set up to ensure that all the pricing, 
taxes and other details, sent to the client are error free.
INVOICE DELIVERY AND APPROVALS 
PROCESS
► A process of confirmation that the invoice has been received by the 
client and is duly approved, helps in ensuring that verified invoices 
are being received by the client in a timely manner.
► An automated system ensures that there is no need for taking manual 
confirmations and approvals from the client. The approval process 
coincides with the payment process and payments are automatically 
transferred to the vendor's bank account, upon approval of the 
invoice.
AUTOMATED REPORTS GENERATION
► Running automated invoicing reports help in in depth financial 
analysis and efficient management of business finances. Such reports 
include - invoice ageing reports, outstanding reports, purchase order 
reports, estimate reports and tax reports
► Such reports help in analyzing the average payment cycle of each and 
every client for timely corrective action. Automated reports help in 
efficient management of resources and timely corrective action for 
any discrepancies in the system.
INTEGRATION WITH CURRENT 
SYSTEMS
► Automated document management systems ensure paperless 
management of all B2B documents, in an efficient manner. An 
automated solution seamlessly integrates with existing ERP and CRM 
solutions to ensure that there is no need to invest in new systems 
altogether.
► This adds to the efficiency of these processes and improves the return 
on investment. Automated inventory management ensures, goods are 
back-ordered as soon as they run out of stock and ensures that they 
are available while in demand.
AUTOMATED PAYMENT REMINDERS
► An automated payment process must be complemented by automated 
payment reminders. In case the payments are not flowing in on time, 
then automated reminders ensure that there is no need to make 
manual follow-ups for reminders or collections.
► A late fee or an interest penalty is also automatically charged in case 
the payment is not made on the due date of the invoice.
BILLING STATEMENT 
► Billing statement ensures that the client automatically receives the 
billing statement on a periodic basis.
► Automatic updating of clients about the current and outstanding bills 
helps in saving the time spent on manual sending of statements. This 
also adds to the comfort level of the client and helps in better client 
retention.
CHOOSING THE RIGHT TOOL 
An automated invoicing solution like NCRi helps in management of a 
large number of invoices in an effective manner. NCRi helps with 
customized enterprise invoicing solutions, automated 
accounts receivable management. 
GET IN TOUCH 
Web: https://www.ncri.com/
Mail: [email protected] 
Phone: +1905-366-0206 
6285 Northam Dr, Suite 400, Mississauga, ON L4V 1X5, Canada