Five Ways AP Automation Can Ease Burnout, Turnover in a Healthcare Organization’s Finance Department
Key takeaways: Employee burnout and turnover are real threats to a healthcare organization’s mission to…
If you uncovered an underutilized $10 million for your organization, what could your organization do with it? If you’re a healthcare supplier, would you use it to invest in operations and mitigate rising costs of energy, transportation and manufacturing that are perpetuating global supply chain disruptions opens in a new tab? If you’re a healthcare provider, would you use it to address labor challenges opens in a new tab your facilities may be facing and the significant costs in recruiting and retaining staff?
If the idea of ‘finding extra working capital’ has piqued your interest, now you’re probably wondering where the money could be hiding and how you can unlock it. Hint: If you’re a supplier, look to your organization’s accounts receivable (AR) processes, and if you’re a provider, look to your accounts payable (AP) processes.
According to one report opens in a new tab, finance leaders recognize ‘increasing working capital’ as the next value driver and automating AR is a potential major source of opportunity. If your organization hasn’t yet embraced the power of automation in your AR and AP departments, there might be working capital hiding in your inefficient, paper-based ordering, invoicing and payables processes. Money is wasted when providers and suppliers can’t smoothly transact from source to settle.
Remitra CFO enables finance leaders on both sides of the healthcare supply chain to optimize their payment cycles, which could generate working capital. When predetermined conditions are met, Remitra CFO offers fast-term, aggregated payments to suppliers while extending payable timelines for providers.
Remitra CFO also streamlines the dispute management process by stepping in as a single point of contact when match exceptions between providers’ purchase orders and suppliers’ invoices occur. Match exceptions pull invoices out of the normal processing queue, delaying payments to suppliers and delaying shipments of supplies to providers.
It’s time for simplification, accuracy and efficiency in healthcare P2P. Streamline your efforts while unlocking working capital for future growth opportunities by taking advantage of:
It’s time for Remitra CFO.
Attending Breakthroughs 22 and want to dive deeper into unlocking working capital with AP and AR automation? Be sure to add our Remitra Solution Spotlight to your agenda on Tuesday, June 21 – Tell Your CFO You Just Found $10M: Reimaging the Value of Your GPO.
Group Vice President, E-Invoicing & Payables, Remitra
Chaun is responsible for providing leadership, strategy and execution to tech-enable critical supply chain purchasing processes.
Director, Product Marketing, Remitra
Garrett helps Remitra reach new healthcare providers and suppliers by generating awareness, educating stakeholders and enabling successful application of Remitra’s revolutionary products.
Key takeaways: Employee burnout and turnover are real threats to a healthcare organization’s mission to…