With the changing pattern of business activities towards the digital era, many companies are accelerating their digital transformation across all of their operations.
One of the important areas in digital transformation is the enablement of online payment system, especially in the accounts receivable administration process. Automation of accounts receivable administration can significantly improve service and convenience for consumers during transactions.
Why Automating Accounts Receivable Is Important?
Let’s take an example, a company whose core business is distribution of information technology products, with thousands of partners in its network, needs to issue thousands of invoices to distributors, retailers and other companies.
Due to the large number of invoices that are issued every month, it generally takes companies several days to complete the reconciliation and administration of the accounts receivable, which causes delays in delivery to their customers. Delays in accounts receivable administration will negatively impact customers satisfaction.
Companies also often experience problems in reconciliation and administrative processing of accounts receivable, including unstructured and insufficient available data regarding payments and no invoice reference data for bulk payment.
To improve customer services, companies can look for ways to speed up and automate the accounts receivable administration process. DART is the solution.
What is DART (Digital Accounts Receivables Tool)?
DART is an innovation from HSBC Indonesia's to improve its services to corporate customers, which can be accessed via web page and android application.
DART is a B2B invoice management platform that allows companies and customers to exchange information about open invoices and make payments. This results in effective and efficient invoice management and helps improve the company's working capital cycle.
Why companies should choose DART?
After using the DART platform, companies can speed up their accounts receivable processing times significantly. This is because DART offers excellent features such as:
- Hassle-Free and Fast: every month, companies can extract thousands of invoices, uploads to HSBC net, which then directly feeds into DART. All on-boarded buyers are then able to view their invoice through the platform, make payment and send advice online.
- Transparent and Easily Monitored: DART integrates the entire process of accounts receivables on a single digital platform. This enables companies to track and trace the status of each invoice, providing the finance team with more visibility over the entire process.
- Reduce Complexity for Account Receivable Process: funds received from buyers are then automatically reconciled and credited to company accounts, eliminating the need for verification and manual processing that the companies previously undertook.
- Customer Support from HSBC Indonesia: we also provide training sessions for its corporate customers on DART to ensure the smooth implementation and adoption of the platform, gather feedback and solve issues that may arise during implementation.