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Generative AI in Accounts Receivable: Opportunities to Better Manage Collections and Cash Flow

Publisher IDC
Published Dec 20, 2023
Length 5 Pages
SKU # IDC18395993

Description

Generative AI in Accounts Receivable: Opportunities to Better Manage Collections and Cash Flow


This IDC Market Perspective discusses the possible transformation in the accounts receivable department through the implementation of generative AI technology. With features such as automated debt collection, generated communications with customers, and predictive analytics, organizations can be empowered to improve their AR processes and better manage their cash flow. Decision makers must be cognizant of potential challenges such as manual processes, disruptions to cash flow due to uncollected payments, and complex dispute resolution. With the capability to address these challenges, generative AI is poised to have a significant impact on AR processes as the technology continues to advance."The accounts receivable department is ripe for technology that facilitates process automation, easier cash flow management, and optimized dispute resolution," says Jordan Steele, research manager, Worldwide Financial Applications Support at IDC. "With the delay in automation common in finance departments, solutions that can effectively implement generative AI technology to address these concerns will be well equipped to meet the needs of today's accounts receivable department."

Please Note: Extended description available upon request.

Table of Contents

5 Pages
Executive Snapshot
New Market Developments and Dynamics
Introduction
Industry Dynamics and Challenges
Disputes and Resolutions
Manual Processes
Delayed Payments and Collection Efforts
Benefits of Generative AI Within Accounts Receivable
Collection Efforts and Communications
Dispute Claims
Predictive Analytics
Use Cases
HighRadius
Gnani.ai
Kognitos
Future Outlook
Advice for the Technology Supplier
Learn More
Related Research
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