CASE STUDY - AR Collections: Accelerating Receivables

A renowned financial services provider, faced challenges with their accounts receivable (AR) collections process. The manual nature of the process, prone to human error and time-consuming tasks, led to frequent delays in collecting payments and increased outstanding balances. The client sought SmarterDev.ai's expertise to develop an AI-driven solution to enhance AR collections efficiency.

Solution: AI-Powered AR Collections Management System

SmarterDev.ai collaborated with the client to create an AI-powered AR collections management system that analyzed historical data, identified patterns, and determined the optimal collection strategies for different types of clients. The AI system prioritized overdue invoices and recommended customized approaches to maximize the probability of successful collections.

Results: Improved Collections Efficiency and Reduced Outstanding Balances

The implementation of the AI-driven AR collections management system led to substantial improvements in the client's collections process:

• Increased collections efficiency by 40%, accelerating the recovery of outstanding balances • Reduced average days sales outstanding (DSO) by 30%, allowing for improved cash flow management • Enhanced customer relations by employing tailored collection strategies based on individual client profiles