Increase Financial Strength
As an industry, we don’t know what additional challenges may impact cash flow. But, both providers and suppliers need increased visibility into the status of cash flow to enable proactive decisions for financial success. To avoid repeating history, it’s time to embrace automation and digitization inclusive of invoicing and payments.
As a supplier finance leader, you have experienced long-standing challenges in provider invoicing and payments. More than ever, you struggle with balancing customer demands for payment flexibility with the financial needs of your business. Your costs of doing business continue to rise while your cash flow has slowed.
Inaction will only magnify current problems and losses. Faced with declining revenues, your customers will continue to seek ways to hold onto cash as long as possible. This could mean potentially even longer gaps between invoicing and payments and higher DSOs.
At the same time, your customers are undertaking a significant technology transformation.
Needing to streamline business processes and electronically capture data to inform clinical and financial decisions, providers are increasingly moving to cloud ERP solutions. This shift presents an ideal opportunity for providers and suppliers to leverage the full value of automation by integrating invoicing and payments into the electronic order-to-cash cycle.
If you don’t take steps to strengthen your financial position today, leaning into this opportunity, both the operational challenges and economic burden will continue to grow.
While you cannot resolve the financial struggles of your customers, you can make it easier and faster for them to pay you while also managing costs. As they transition to cloud ERPs and digitize processes, capitalize on this shift by offering electronic, automated invoicing and payment solutions aligned with their efficiency and cost savings goals.
The integration of invoices and payments into a fully digitized order-to-cash cycle provides your customers visibility into their cash flows. They can leverage these insights to make informed payment decisions more readily to help you get paid sooner. And, with access to real-time data on the state of your receivables, you can make proactive, informed decisions for your business.
Simplify and speed the order-to-cash process with your customers by offering them electronic and automated solutions for invoicing and payments designed to improve business continuity and deliver greater flexibility, visibility and control throughout the order cycle.
Automated order-to-invoice matching facilitates more timely and accurate error identification and resolution. It can help you:
Furthermore, advanced automation allows you to provide customers flexibility in payment channels to meet their industry-driven needs while also enabling you to gain predictability in receivables. More flexibility and adaptability moving forward enable you and your customers to navigate unexpected industry impacts down the road.
With a fully automated and digital order-to-cash process, you capture relevant, real-time insights on the state of your receivables and cash flow that help you make informed decisions for greater financial strength and stability.
GHX is the only healthcare solutions provider able to integrate invoicing and payments into a single, electronic and automated order-to-cash process. Used in conjunction with the GHX Exchange, providers and suppliers have a holistic view into their transactions, placing payments into the context of the overall order cycle.
GHX’s eInvoicing and ePay AR automation solutions make it easier for suppliers and providers to do business, reducing complexity, labor and costs on both sides. This helps you improve your financial standing by allowing you to deliver invoices faster, resolve customer inquiries more easily and get paid more quickly.
Complete automation of the order-to-cash process provides you and your customers greater visibility into transactions. Based on this knowledge, you can take steps to operate in a more cost-effective manner during these challenging times and beyond. Offered through web-based portals, GHX’s solutions can be accessed remotely, keeping transactions flowing even in the event of future business disruptions.
Balancing flexibility for customer payment with your own financial needs is more challenging today. GHX can help. Please provide your contact information and someone will reach out to schedule a call. Thank you.
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