A company’s revenue is the bottom line, the primary focus, and the vital point on which their business health depends. The ability to control and generate revenue is a critical driver of success, and while a capable, disciplined, and innovative AR staff can bring a moderate amount of efficiency, full control comes from an RCM (Revenue Cycle Management) system.

While PayStream’s research usually focuses on AP processes within the financial software arena, our new research report, Revenue Cycle Management, provides insight into another side of back-office procedures. Automating the AR process dramatically improves productivity in collections by regulating an often confusing activity—tracking down the where, when, and who of outstanding bills can be time-consuming and unproductive, as well as error-prone. Automatically telling collectors who to call and collect from and why, with all the vital data they need available to them within one easy-to-navigate user interface, streamlines and secures this process.

This report’s research covers the current trends in AR activities, revealing the trouble spots in manual processes and the benefits of RCM automation. From survey results, we have seen that collectors who utilize RCM automation are able to spend far less time on administrative duties such as prioritizing daily activities or preparing for calls, and spend a majority of their time communicating with customers, settling disputes, and other value-added tasks that result in lowering DSO, reducing overdue AR, and reducing bad debt, see figure above. RCM automation removes manual processes, such as spreadsheets and aging reports, from AR and provides the tools necessary to focus on critical revenue-driving activities.

Featured in this report are detailed descriptions of current RCM offerings, both the basic features found in current market technology, and the innovative strategies that leading RCM solution providers employ in their product design to give their customers a competitive edge. Also included are profiles of select RCM developers that have taken the RCM industry to the next level with their unique and powerful offerings.

The main purpose of this report is to give AR departments the tools to take control of their order-to-cash cycle. Not only will RCM technology build the revenue of organizations through fast and stronger cash management, but it will also increase the success of other departments, such as AP and Procurement. We encourage AR professionals to enable their organizations to take control of success—download the free Revenue Cycle Management Report today!