In recent years the use of Artificial Intelligence (AI) has rocked. With McKinsey estimating that at the most digitized firms, 67 percent of respondents have embedded AI into standard business processes, compared with 43 percent at all other companies. Despite AI often being a hefty investment initially it often leads to significantly greater cost reduction in the long run. By getting rid of human wages for certain roles and removing the capacity for human error; allowing business to operate in a more efficient manner.
One innovative AI platform to help businesses save money is Sidetrade; assisting businesses with their accounts receivable function, providing informative and deep customer insights, in turn helping to accelerate cash collection. Thus reducing bad debt and lowering DSO by identifying slow payers and red flagging high risk customers.
If your business is looking to reduce costs or would like help implementing Sidetrade please don’t hesitate to get in contact with Cost Guru https://costguru.co.uk or Threadgold Consulting using our contact us function in the top right hand corner!