Deliver the flexibility customers demand with integrated payments and omni-channel payment acceptance.

Add built-in payment functionality directly to invoices and accept payments outside of your portal.

Set fully customizable rules for AR payments, including automatic recurring payments, at the individual customer level.

Access real-time analytics that put all billing and accounts receivable collections information at your fingertips.

View entire account histories, and drill into invoices, payments, credits, and customer interaction data.

Automate collections tasks like upcoming and late payment reminders so your staff can focus on more valuable work.

Automated accounts receivable involves automating the process of receiving and recording payments from customers for goods or services provided by a business. This can include pre-setting reminders for payments, electronic invoicing, online payment portals, and payment reconciliation. By automating these tasks, you can reduce manual work, improve efficiency, and provide more accurate and timely recording of transactions.

While accounts payable (AP) refers to liabilities a business owes, accounts receivable (AR) refers to the funds a business is owed by its customers. Essentially, AP is money out, and AR is money in. AR automation involves automating tasks such as sending invoices, collecting payments, and applying payments to open receivables. On the other hand, AP automation involves automating tasks such as paying invoices and recording those payments.

There are many reasons accounts receivable automation software is critical to modern businesses:

1. Drive efficiency: Automation allows businesses to complete tasks faster and frees up employees to work on more strategic projects.
2. Increase accuracy: Technologies like AI and machine learning allow tasks like cash application to be completed with a high degree of accuracy, even when information is missing or human error is present.
3. Accelerate cash flow: By automating invoices and collections, you can ensure customers receive the information they need promptly, and provide easier ways to pay.

AR automation software streamlines cash flow in a few different ways:

1. Increased visibility: With the ability to track the payment status of each invoice, businesses can stay on top of collections and limit DSO.
2. Faster dispute resolution: Instead of playing phone tag or getting lost in email chains, disputes and questions can be managed directly in AR automation software.
3. Accelerated cash application: AI can match payments to open receivables faster than humans, ensuring that cash flow is replenished more quickly.

Key Performance Indicators are critical to understanding how AR directly impacts business performance. The following are three of the most tracked in accounts receivable:

1. Days Sales Outstanding (DSO): This measures the average number of days it takes to collect payment from customers. A lower DSO indicates that customers are paying their invoices more quickly, which can improve cash flow.
2. Average Collection Period (ACP): The average time it takes to collect payment from customers, measured in days. A lower ACP indicates that the company is collecting payments more quickly.
3. Bad Debt Ratio: This measures the percentage of total sales the company is unable to collect from customers. A lower bad debt ratio indicates that the company is effectively managing credit risk and minimizing losses due to unpaid invoices.