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Big Ideas For AR Automation

Knowing how well you Collect Money is a Make-or-Break metric

  • Time-consuming, multi-step AR workflows with multiple employees involved like invoice processing and payment approval can be a huge drain on your finance team’s resources.
  • Streamlining your payment processes with automation can help you manage your own finances better, and can help your customers manage their finances better, as well.
  • With the constant, tedious AR workload automated and removed from your employees’ plates, they can better digitize other processes and feel a greater sense of career satisfaction.
  • The two most important assets to your business are your customers and your cash; therefore, invoicing customers and collecting payments, while keeping those customers happy, is critical to your success.
  • The better your accounting metrics – such as days sales outstanding (DSO) and average days delinquent (ADD) – the healthier your company’s finances will be.

Software Recommendation:

Invoiced

Invoiced’s AR automation platform helps small to medium-sized businesses get paid faster, reduce time spent on payment collection activities, and provide a far-improved payment experience for their customers. Invoiced’s SaaS-based solution enables users to customize their entire AR operation with the following functions: Expediting by up to 14 days the invoice-to-cash cycle, Subscription Billing to improve predicting revenue growth, Payment Plans for allowing customers to pay back in installments, and a powerful Customer Portal.

www.invoiced.com

Bill.com

Bill.com is a leading provider of cloud-based software that automates, digitizes and simplifies complex, back-office financial operations for small to medium-size companies. Their “AI-enabled” financial software platform is used to manage end-to-end financial workflows, as well as to process payments, and one of the software’s key strengths is its ability to create automated, seamless and touch-free connections between businesses and their suppliers and clients.

www.bill.com

 

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