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Why Qntrl for your accounts receivable process?

  • Visibility

    Transparency into and throughout the whole process. See when you receive payments and when there is a delay. Gain a clear understanding of the cash-in-hand and resource allocation.

  • Control

    When every step can be tracked, team members at each stage gain control and autonomy, thus enabling faster decision-making.

  • Automation

    Reduce human intervention by automating process steps⁠ such as credit management, creating and sending invoices, and reconciliation.

  • Cost Effectiveness

    Save time and money as you automate costly processes such as credit review, payment reconciliation, invoicing, collection, and much more.

  • Faster Payments

    Easily set-up e-invoices for customers. E-invoicing significantly speeds up the payment process by reducing the risk of delays in payment. 

  • Accuracy

    Mitigate risk by flagging fraudulent and duplicate payments and eliminate chances for human error by easily capturing early payment discounts.

Sample accounts receivable process in a few steps

  • Step 1
  • Step 2
  • Step 3
  • Step 4
  • Step 5

Request submitted by finance manager

After the purchase order is received, the finance manager sends a request for accounts receivable. Details such as the amount due, payment type, customer name, etc. are filled in.

Credit period determination

Once the accounts receivable request is submitted, the transaction value is analyzed. Based on this value the credit period is calculated and recorded.

Sending the invoice

The customer is categorized based on being a new or recurring sales. After this, an invoice is newly created or an existing template is used. After the invoice is generated, it is sent to the customer.

Receiving the payment

Once the invoice is sent to the customer, the timeline for payment is recorded. If payment is made before or after the credit period, discounts or interests are applied, as needed.

Research report

Once the payment is made, irrespective of the discounts or interest applied, the deposit is recorded. The AR report is printed and the request is closed. In cases of delinquency, the sale is recognised as uncollectible and is closed.

Qntrl is flexible

  • Set up multiple accounts receivable process requests based on the structure that best suits your organization or department.
  • Create new e-invoices for each new customer or new purchase. Use existing templates for recurring purchases.
  • Integrate your system with payment methods such as SEPA, ACH, and credit/debit card payments across various business units while ensuring compliance to PCI-CSS guidelines.
  • Send automatic notifications and alerts to the finance team via email, or chat apps like MS Teams or Slack. Keep stakeholders up to date with all relevant information.
  • Analyze your accounts receivable process workflows, credit- to-cash processes, etc. and optimize their performance over time, using our built-in reports and dashboards.

Not all accounts receivable processes are the same

-- Choose the one that best suits your organization --

Take a look at Qntrl

Qntrl is the world’s #1 Workflow Orchestration Software. See why.

  • Centralization & Visibility
  • Process Compliance
  • Workflow-Centric Collaboration
  • Process Automation
  • Reports and Dashboards
  • Process Mapping
  • Process Integration
  • Enterprise Security
  • Centralization & Visibility

    Centralized requests, Unparalleled visibility

    Get end-to-end visibility of all your workflows. Know what your team is working on, what progress has been made, and what’s coming down the pipeline.

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  • Process Compliance

    Ensure execution standards

    Optimize processes by budget. Boost low-cost requests, route high-value items through departments. Embed finance controls, leverage compliance for business performance, not resource drain.

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  • Workflow-Centric Collaboration

    Collaboration: when you need it, where you need it

    Access unified, relevant info in processes- SOC 2 for credit risk, payment vouchers for accounts payable, etc. Notify peers faster via email, SMS, or chat app.

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  • Process Automation

    Make repetitive manual work a thing of the past

    Track payments, send reminders for overdue amounts, customize invoices and statements, and automate workflow steps, assignments, and notifications. Adapt easily to changing business needs.

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  • Reports and Dashboards

    Improve Operational KPIs

    Discover payment delay causes, reduce cycle times, monitor employee performance and access real-time reports. Schedule custom reports and stay on track with automated SLA reminders.

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  • Process Mapping

    Orchestrate, Visually

    Create flexible processes–request checks, approve budgets, reimburse travel, etc., tailored to your business. Workflow designer with advanced features– parallel transitions and common states.

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  • Process Integration

    Make Qntrl even more powerful

    Connect Qntrl with tools like Netsuite, SAP, Slack, Stripe, and more. Minimize manual reconciliation and compile data from different sources. Customize Qntrl to fit with APIs and scripts.

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  • Enterprise Security

    Designed for Enterprise

    Advantages of a cloud-based platform with unbeatable security. Data encryption and role-based access controls for your sensitive information. Audit capabilities to find out who-did-what-when.

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