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While emails are often used, phone calls can be more effective, especially for high-riskaccounts. The most common fraud schemes include Business Email Compromise, changes to supplier information, and account takeovers. Preventing email comprpomise requires verification of changes (payment details, shipping address, etc.)
It is important to keep in mind that trade credit — selling on terms in a B2B environment — is greatly affected by the transactional process. it just might help them pay you sooner! When changing the commission structure represents a major change for the Salesforce, a graduated approach over one or two quarters is recommended.
For example, AI can flag high-riskaccounts, giving the AR team the information they need to prioritize collections. Cash Application Automation Cash application involves matching incoming payments with outstanding invoices, which can be a complex and time-consuming task.
As a longtime leader in the AI-based order-to-cash solutions industry, conferences around the world ask for Emagia representatives to appear and speak Artificial Intelligence, automation, and GenAI in finance. This enables companies to focus their collection efforts more effectively and prioritize high-riskaccounts.
Prioritization of Collection Efforts: Using analytics to focus on high-riskaccounts and optimize collection strategies. Remittance Processing: Handling various remittance formats to ensure accurate and timely cash posting. Determining automation requirements based on transaction volume and complexity.
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