As the world embraces real-time payments, credit and collection departments are struggling to keep up with the volume and disassociation of remittance information that is used to apply payments. Gone are the days when they can hire more employees to keep things under control.
The risk involved in extending credit lines and timely collection of payments is growing, keeping companies from achieving an optimal level of working capital and cash flow.
Corporations must improve operational efficiencies with fewer and fewer resources. Increasingly, they are turning to technology solution providers to provide them with a path to success.