Yesterday’s technology: Why spreadsheets don’t cut it anymore for managing a university’s accounts receivable.

Thursday, October 12, 2017

For decades, spreadsheets made sense. They were a powerful way to compile large amounts of data. They even come pre-loaded with your office software bundle, so they’ve remained a mainstay at organizations, large and small. But spreadsheets have their limitations, and that’s why they’re a dying technology.

In today’s retail and consumer environment, customer service is being redefined by real-time data access. This is no different when it comes to managing an institutions accounts receivable portfolio.

Spreadsheets still rely on someone to manually enter the information, which not only requires extensive labor hours; it also introduces room for human error. If a college is managing past-due accounts receivable as well as its payment plans on spreadsheets, employees are faced with a multitude of additional tasks like running reports, merging files, making physical printouts, and manually generating letters. And, students are faced with out of date information. The inefficiencies are glaring.

Solutions like RecoverySelect allow you to throw out your spreadsheets and manual processes. Today’s students expect customer service that is based on up to date, consistent, and clear information.

Don’t let yourself get bogged down in a world of rows and columns. Eliminate mind-numbing formulas. Stop merging and updating your spreadsheets. Start simplifying accounts receivable. You and your students will appreciate it.