Intervate has announced the launch of its AR Accelerator, powered by Linxus, to enhance organisations’ Accounts Receivable departments and reduce debtors days.
The solution was developed by Linxus, a local technology company that connects people, process and technology – to create practical business solutions and drive real business value in an organisation. With a strong background in supply chain and operations management, Linxus uses unique technology design and implementation methods to deliver services with enduring value to its clients.
AR Accelerator allows an organisation’s customers to easily map invoices and statements, to relevant purchase orders, contracts, timesheets, service level agreements, and other related documents.
Despite rapid enhancements in digital and automated technologies, many local organisations still manage the distribution of invoices and collection of payments in a largely manual fashion.
Untold hours are spent searching, matching, resending and chasing documents. Payments are delayed, and the debtors days pile up – requiring the company to allocate increasing capital to cashflow contingencies and bad debt provisioning.
CFOs worry that poor debtors books have a direct impact on financial performance, profitability, costs of financing, and the company’s ability to pay its own creditors. As more resources are thrown at the problem, margins are eroded by recovery costs and overdraft fees.
Intervate Executive Head Peter Reid explains that AR Accelerator alleviates these worries – bringing fluidity and efficiency to the Accounts Receivable function with a comprehensive set of linked documents that improve the likelihood of speedy payments.
“AR Accelerator can reduce debtors days by as much as 40%; and produce time-savings of up to 60% within the Accounts Receivable department.”
“Not only does it eliminate inefficiencies and inaccuracies, but it provides a better experience to one’s customers, as well as guaranteeing peace of mind in adhering to compliance and governance requirements,” adds Reid.
AR Accelerator includes the following headline features:
- Automation of invoices on a monthly or periodic basis… reducing the manual intervention required by the Accounts Receivable department.
- ‘Moment of Truth’ information delivery… providing the correct set of related information to the customer, as the invoice is issued.
- Transforming documents into calls-to-action… the next steps that need to be taken can be ‘teed-up’ for the customer – simplifying their experience. This could include approving, providing feedback, logging a query, or initiating payment.
- Click-to-chat functionality… allowing a customer to easily contact the supplier to clarify or ask questions. Support numbers and email addresses are also clearly visible at all times.
- Creation of a data warehouse environment… so all pertinent information is easily available for reporting or auditing purposes.
- Embedded process and systems workflows… which physically move documents between different parts of the value-chain, as well as automating and optimising processes in the background.
- Open architectures… to ensure all documents are available via whatever front-end system that a customer may use (such as email, CRM, SharePoint, Skype for Business, etc).
According to research firm Aberdeen Group in 2016, the number of employees required in Accounts Receivable functions more than halved in organisations where an automated process was implemented*.
AR Accelerator not only generates these kinds of efficiencies, but improves the experiences for one’s customers, helps to ensure that capital is channeled to the most profitable areas, and improves overall financial performance.
T-Systems in South Africa:
Head of Marketing & Communications
About Deutsche Telekom
Deutsche Telekom is one of the world’s leading integrated telecommunications companies with around 151 million mobile customers, 30 million fixed-network lines and more than 17 million broadband lines (as of December 31, 2014). The Group provides fixed network, mobile communications, Internet and IPTV products and services for consumers and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in more than 50 countries and has approximately 228,000 employees worldwide. The Group generated revenues of EUR 62.7 billion in the 2014 financial year – more than 60 percent of it outside Germany.
Deutsche Telekom considers the European business customer segment a strategic growth area. Deutsche Telekom offers small, medium-sized and multinational companies ICT solutions for an increasingly complex digital world. In addition to services from the cloud, the range of services is centred around M2M and security solutions, complementary mobile communications and fixed network products, and solutions for virtual collaboration and IT platforms, all of which forms the basis for our customers’ digital business models.
With approximately 47,800 employees worldwide, T-Systems generated revenue of around EUR 8,6 billion in the 2014 financial year.
Since the inception of T-Systems in South Africa in 1997, the company has cemented its position as one of the most successful T-Systems companies outside of Europe. A leading ICT outsourcing service provider locally, T-Systems offers end-to-end ICT solutions in both the ICT Operations and Systems Integration markets. Their extensive portfolio of services covers the vertical, horizontal, IT and TC space. T-Systems South Africa’s head office is located in Midrand with another major office in Cape Town, and 20 further representative offices in locations throughout southern Africa.
Intervate, a T-Systems company in South Africa, is an enabler of digital transformation, delivering digital workplace solutions and customer experiences that drive business value and improve productivity.
e have over 17 years’ experience in delivering innovative solutions that enable digital transformation including Enterprise Mobility, Enterprise Information Management, Customer and Data Insights, Business Process Solutions, Cloud solutions and Enterprise Application Integration. Our technical expertise is supported by an understanding of the strategic drivers and challenges that enable us to provide our customers with professional guidance regarding the best practices proven to deliver successful projects and business benefits.