Nearly 93% of organizations struggle with late payments from customers that can cascade into debt write-offs. To avoid debts, businesses focus on minimizing Days Sales Outstanding (DSO), which measures the average time to collect payments from customers.  According to a Pymts survey, mid-market firms that still use mostly or completely manual payment processes face average days sales outstanding (DSO) times that are as many as 14 days longer than those that use automated processes.
Automation reduces payment delays and therefore potential debt by enabling:
Timely distribution of customer invoices
Issuance of accurate invoices to avoid payment delays and disputes
Automatic posting of customer payments, making it easier to track whether accounts are up-to-date or require payment reminders
Integration with payment platforms for easier and convenient payments
Insights to improve A/R policies and avoid extending credit to customers likely to default