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Frost & Sullivan: B2B Businesses from All Industries Are Gaining an Advantage by Managing Account Receivables

Business after Business Adopts Automated A/R Receivables Solutions Such as Gaviti in Order to Get Paid on Time

An advantage in securing a stable stream of capital is the difference between nurturing a business to success and having it wilt. Consequently, those businesses that gain a significant advantage in securing their receivables and ensuring constant cash flow will outpace their competition. B2B businesses are using Automated A/R Collection Solutions to gain this very advantage and navigate the risks of today’s market.

An Automated A/R Collection Solution is essentially sophisticated software that requests receivables from customers. Imagine having an intelligent and automatic tool that reminds your customers to pay, in an effective way, and that makes it a priority to strengthen your relationship with those customers.

Today this solution is critical because of current economic trends. B2B sales are increasingly made on credit and the number of days taken to receive payments is unusually high. Concurrently, the average DSO (days sales outstanding or the number of days to collect cash once an invoice has been made) is a staggering 51 days for SMEs and 69 days for large enterprises. Financial analysis of today’s business ecosystem shows clearly that companies are sacrificing investment in their own growth and instead using their capital to make up for cash flow that is not coming in on time from customers.

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The account receivables team at Monday.com, one of the world’s most popular project management tool providers, shared that Gaviti, a leading Automated A/R Collection solution, “has been key in ensuring our DSO has not only stopped increasing but also shown improvements over a relatively short period of time. The ease of use combined with a highly responsive and helpful team has enabled us to quickly implement a comprehensive and versatile collections process.”

Frost and Sullivan finds that the core offering of Automated A/R Collection Solutions is twofold, not only do they significantly decrease the time it takes for B2B businesses to get paid, but they free up enormous amounts of time that businesses waste on countless efforts to collect payments from customers.

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The account receivables team at Wochit, a leading cloud-based video creation platform, shared that “Since we started using Gaviti to automate our collections process, we no longer have to work 24/7 to remind our customers regarding their payment terms.”

Behind the most effective Automated A/R Collection Solutions is a powerful engine that deeply understands customers from different industries. Gaviti for example, leverages AI to learn customer behavior and in turn requests payments in the most effective ways. One of Gaviti’s ground breaking offerings is that it allows businesses to take advantage of the enormous amounts of proven collections workflows that are constantly being tested and improved so that businesses do not need to try what methods work best to get paid. Collections methods are efficient from day one. Additionally, users are alerted when they are doing business with a party that has a faulty payment history. This is critical in predicting future payment issues and mitigates the risk of working with problematic customers.

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The corporate finance team at the TWE Group, an international provider of nonwoven solutions, shared that “The automated workflow has reduced our workload and made our communications with our customers more consistent. Even in the midst of the worldwide pandemic, our collections and aging have improved.”

Frost & Sullivan is witnessing strong adoption of Automated A/R Collections Solutions across a huge variety of B2B Businesses industries from manufacturing and logistics to consulting and accounting and all the way through to technology companies. Adoption leads these businesses to get paid way earlier than they would otherwise, which creates a stronger more stable business that can invest in itself and that will be able to withstand the challenges and risks of tomorrow. Frost & Sullivan believes that the adoption of Automated A/R Collection Solutions is becoming an essential component in managing receivables and ensuring stability.

Frost & Sullivan is a global strategic and financial consulting firm. Over the past six decades, Frost & Sullivan has become world-renowned for its role in helping corporate leaders, investors, and governments navigate economic changes and identify disruptive technologies and new business models resulting in a continuous flow of growth opportunities to drive future success. Today, more than ever before, companies must innovate, not only to survive, but thrive in the future. We provide service to 10,000+ clients worldwide, including emerging companies, SME, the Global 1000 and the investment community.

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