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To address these challenges, many companies are turning to accounts receivable automation software. These solutions streamline invoicing, payment collection, and reconciliation processes, reducing manual efforts and improving overall efficiency.
Sending off invoices, collecting payments, paying vendors and meeting payroll are common examples. Longer DSOs lead to a greater reliance on credit. With the recent hikes in interest rates, reducing credit reliance is even more important. Collectionsautomation has an even better effect.
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