2021 WILL LIKELY

SEE A SHIFT THAT WILL SEE THE POTENTIAL OF

AR UNLOCKED BY CIOS , CMOS AND CFOS . adapt to the changing economic conditions facing their customers . Only digital can provide the kind of consistency and visibility to support smart and caring decisions around payment terms .

Such decisions become critical in building loyalty and even supporting the up-sell when challenging economic conditions improve .

With COVID , businesses struggled that weren ’ t before and AR teams that were able to respond in ways that communicated in a more measured , circumspect and gentler way reduced the stress and likely built the long-term value of the relationship . This will pay dividends in 2021 and beyond , as will the accompanying digitisation of payments that will help improve the speed of paid invoices and overall cashflow . The net effect of this movement toward a more digitised AR will be a recognition within many businesses of the central role played by the function and its potential to support other functions , like sales , as a front-line rather than a back-office connection to the customer .

A truly relational AR will also become a brand builder , especially important as organisations seek to find ways to stand out in an increasingly competitive landscape . �

Karen Stephen is COO of SurePayd and has a background in the space where technology and community engagement meet .

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