KwikTag has teamed up with Nodus Technologies to address common manual processing challenges across accounts payable and accounts receivable. While they are different finance processes, both can gain efficiency and productivity with automation solutions.
The accounts payable and accounts receivable departments are often seen as vastly different facets of a company’s accounting process. However, when it comes lack of visibility, manual process errors and other bottlenecks, AP and AR often experience the same problems. For both AP and AR, manual processes cost a lot of time and money and create fraud and compliance risks.
Manual process bottlenecks in accounts receivable can lead to an increase in data entry errors. These errors can cause delayed or missed payments and increase the possibility of payment disputes. A 2020 study by American Express showed that companies with manual, paper-based AR processes have a 30% longer DSO average (Days Sales Outstanding). The work load accompanied by manual processes means that AR team members don’t have enough time to spent on more pressing issues, such as reaching out to customers about overdue payments, upselling, and cross-selling.
Similarly, in accounts payable, accounting and finance team members spend more than 50% of every work day looking for invoices with little to no visibility into the process. The impact of the pandemic and transition to remote workforces has only exasperated the challenges associated with manual processes. This creates an intense time pressure and stressful environment for the AP team, which subsequently increases the risk for manual errors and further frustration.
AR automation reduces manual labor and saves time by automating the entire collection process. The visibility for an AR team is increased with real time reporting via a bi-directional integration with Dynamics GP. Customers can control their payments and payment information with a convenient payment portal. AR teams can focus less on reacting to manual processing delays and more on proactively working to grow the business by upselling and cross-selling. AR automation also increases process security. It can be inefficient and error-prone to take credit card information over the phone, or have someone driving back and forth to the office to collect checks. The remote work environment is no longer a hindrance with automation, instead, everything is processed online through a secure portal that meets PCI compliance and security measures.
Overall, automation benefits a company’s time management, compliance, process visibility, and more. The benefits extend from AP and AR teams to the entire organization.
Both KwikTag and Nodus have strong integrations with Dynamics GP for their respective business areas.
Nodus Technologies specializes in electronic payment processing and AR automation solutions for Microsoft Dynamics. To learn more about Nodus, please visit
About KwikTag by enChoice
KwikTag, by enChoice, leads organizational digital transformation as the one system for invoice and payment automation. KwikTag helps organizations go paperless with AP automation and document management with powerful integrations with the Microsoft Dynamics ERP systems.
To learn more about KwikTag, visit