1、The State of Accounts Receivable Digitization in Manufacturing1WAKEFIELD+VERSAPAY:The State of Accounts Receivable Digitization in Manufacturing The State of Accounts Receivable Digitization in Manufacturing2Whats driving the need for AR digitization in manufacturing?The signs of a recession are all

2、 around.From supply chain disruptions,to rising interest rates,to global unrest,manufacturers have plenty to be concerned about,not the least of which is having cash on hand to reinvest in the business.These conditions put pressure on accounts receivable(AR)teams,whose primary objectives are maintai

3、ning an efficient invoice-to-cash(I2C)cycle and ensuring liquidity is available to run a smooth operation.In collaboration with Wakefield Research,we surveyed 350 C-level executives in manufacturing to understand the challenges their AR teams face and the digital solutions they are looking at to sol

4、ve them.The biggest headaches manufacturers AR departments face:Not surprisingly,supply chain disruptions,rising interest rates,and inflation are exacerbating the challenges AR teams in manufacturing face.This report explores how manufacturers are digitizing their AR departments to add efficiencies

5、to help overcome the immediate challenges impacting their businesses today.The State of Accounts Receivable Digitization in Manufacturing3Digital transformation efforts must solve the AR DisconnectWhile most businesses have begun to digitize their accounts receivable,few have closed the gap on custo

6、mer experience(CX).CX is a critical component of AR digitization,and manufacturers looking to optimize back-office processes should extend their focus beyond efficiency gains within their AR department,and seriously consider improvements that impact customers experiences and relationships.Manufactur