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Companies With AI-Driven Strategies Outcompete Peers, Study Finds
The payments industry has been a latecomer to the financial technology revolution. Many companies still use legacy accounts receivable (AR) processes marked by an overwhelming reliance on manual procedures. Now, the industry is at a crossroads, facing a technological advancement that promises to leave no sector untouched: artificial intelligence (AI). The technology’s potential benefits read like an AR team’s wish list — and the reality is not far off.
AR is the lifeblood of any company. But for too many, economic pressures threaten its flow, elevating AR teams to the top of organizations’ priority lists. While AI is not without risk and must be understood and implemented with care, the upside of AI adoption for AR is increasingly difficult to deny.
In this edition of the “Working Capital Tracker®,” we zoom in on how AI can help AR teams ease pain points so companies can thrive amid economic uncertainty.