From Manual Mayhem to Mobile Magic — How Mobile Payment Solutions Can Help Your A/R Operations Find New Luck at the End of the Receivables Rainbow

Written by: Erin Wright

March 15, 2024

StPaddysDay_BlogHeaderImageFumbling with cash, waiting on paper checks, handling collections, and managing manual data entry and cash application processes doesn’t feel like chasing rainbows — there may be a pot of gold at the end, but your internal accounts receivable (A/R) team shouldn't have to shuffle through manual processes to get to it.

Siloed, legacy A/R processes and systems can make even the luckiest organization feel like a bunch of grumpy leprechauns. Don’t let outdated systems, paper-based receivables and error-prone cash application operations pinch you this St. Patrick’s Day. Efficiently and seamlessly find your A/R pot of gold by implementing and integrating A/R automation solutions to securely accept, process and post any payment method, from any payment channel—all from a single platform.

Don’t Let Your Luck Run Out: ShamROCK Your A/R Operations with Mobile Payments

With an A/R automation platform, your organization is able to implement the payment acceptance and processing solutions you, and your customers, need in order to streamline and automate payment processing operations. By utilizing a seamlessly integrated mobile payment solution via a single A/R automation system, your business is able to unlock the magic of mobile payments. 

No longer only a consumer-facing payment channel, mobile payments can help B2B organizations to streamline payment acceptance in the field while also automating back-office cash application operations.

With a mobile payment acceptance solution, whether utilized via a stand-alone application or by integrating embedded payment acceptance technology into an existing mobile app or browser-based application, your business is able to provide your field representatives, sales team members and/or delivery drivers with the ability to accept payments on the spot from customers. Team members are able to securely accept check, ACH/EFT and credit/debit card payments in the field, seamlessly associate the payment information to customer account and/or invoice data, and automatically send the payment details to the home-office for processing and posting.

Forget the four-leaf clover, mobile payments are your lucky charm for seamless payment acceptance in the field this St. Patrick’s Day!

In a Pinch with Paper Checks? Mobile Remote Deposit Capture is Your Lucky Charm

Even though paper checks have seen a steady decline over the past several years due to the rise of electronic payment methods and channels, many B2B organizations still receive high volumes of paper checks, whether it’s in the home office or in the field. Additionally, in industries where checks remain a primary payment method such as distribution, insurance, field services, real estate and more, many delivery drivers, sales team members and agents/representatives are accepting checks on the spot on a day-to-day basis. With traditional payment acceptance and processing methods, this can result in missed payments, delayed deposits and long DSO periods.

With Mobile Remote Deposit Capture (mRDC) solutions, your field team members are able to accept check payments on the spot by securely capturing a photo of the front and back of the check, associating the payment details to customer account data and open invoices, and sending the payment data to the home office for processing and posting. In many cases, based on configurable business rules, payments accepted in the field don’t even require any review by home-office employees. Any payments classified as “exceptions” and requiring further review can automatically be routed to the appropriate staff, ensuring that employees are focusing their time on the highest value functions. 

Manual check acceptance in the field no longer has to rain on your A/R parade — mRDC solutions can bring a rainbow to your receivables mix. 

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Don’t let paper-based receivables and manual payment processing operations put you in a pinch this St. Patrick’s Day. Implement and integrate a seamless, secure mobile solution to streamline payment acceptance not only in the field, but your back-office as well.

By accelerating your payment acceptance with mobile payment solutions, you are able to move payment acceptance from solely the back-office to the field and front-office. Reduce DSO, increase cash flow and automate your business’ A/R operations this St. Patrick’s Day and beyond with truly integrated mobile payment acceptance and processing solutions. 

Happy St. Patrick’s Day!

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