Embedded B2B Payments
Convenient, fast, and secure payment options so your customers have everything they need to pay their invoices.
AR (accounts receivable) automation offers small and medium-sized B2B companies a myriad of benefits, including better cash flow, reduced costs, and less stress. That’s why 93% of businesses surveyed by PYMNTS and American Express deem automation necessary and believe manual systems do not meet their needs.
AR automation is quickly growing from a luxury to a necessity for companies across an array of industries looking to keep pace with or eclipse the competition. Like everything else, however, AR automation works only when choosing the right platform.
Here are five essential features of effective AR automation software:
1. Electronic invoicing
It takes more than two weeks to manually process an invoice, bringing collections to a halt and stifling cash flow. Your company may look profitable on paper. But you won't be able to cover expenses or modify equipment until the invoice is sent and the bill is paid.
E-invoicing from Bill360 gets you paid faster by immediately creating and sending customizable, accurate digital invoices to customers. Rather than processing and sending one invoice at a time, Bill360 enables batch invoicing, where multiple invoices are sent and paid at the same time. You and your customers get full transparency into when each invoice was created, sent, and received - or whether it's been paid or still outstanding, bringing quick resolution to any dispute. You no longer have to waste time digging through receipts or checking ledgers and spreadsheets.
2. Embedded payment platform
Not all AR platforms are created equal. Some need additional payment processes that cause friction – the very thing automation is supposed to eliminate – and may contribute to disputes between you and your customers.
Bill360's embedded platform allows your customers to access self-service portals, where they can set up digital wallets and make easy, one-touch payments via ACH and with credit cards. You get paid faster and dodge the dangers of check fraud. Bill360 also processes card payments, saving you approximately $2,500 in swipe fees you'd lose to a third-party processor.
3. Simple installation
Automation doesn’t have to be difficult. The right AR platform enables you to go from setup to operation in one day, enabling you and your team to start using the software immediately rather than waiting weeks.
Bill360 requires minimal training and syncs seamlessly with QuickBooks® and Xero.® And you won't have to deal with chatbots or outsourced answering services because we have a full-time, in-house support team standing by to answer any questions.
4. Simple integration
Using automation to streamline your AR process doesn’t mean you have to do away with existing accounting software you've grown comfortable using.
Rather, the right platform enhances those programs by picking up where they left off and providing you with extra features, such as DSO monitoring and buyer portals with invoice histories. This enables you to improve your accounts receivable without eliminating something that works for you.
5. Enhanced customer experience
Automating your company’s AR process should make life easier for you and your customers as well. That way, they’ll have no problem submitting their payments on time.
Effective AR automation offers customers a variety of speedy and secure payment methods through ACH or with credit and debit cards. Buyer-controlled payment wallets and self-service portals make communicating with customers easier and more efficient than ever, leading to fewer mistakes and less confusion. And with real-time payment tracking, you’ll be able to know when a typically punctual customer has missed their due date. This enables you to proactively reach out and learn of any issues you can help with.
Bill360: AR automation for B2B companies.
Bill360 is a pioneer in the AR automation space – the first payment platform purpose-built for small to medium-sized B2B companies. We offer unique data solutions in a secure, embedded platform for ACH and card processing that make it easier for customers to pay you on time.
Check out our video library to hear from real Bill360 clients and watch our platform in action.
FAQ
How can e-invoicing help my AR process?
Preparing invoices digitally takes less time than doing so manually and also reduces the risk of costly errors that can slow collections and create disputes with customers.
Is accounting automation difficult to use?
It shouldn't be. AR automation was made to make life easier for B2B companies and their staffs. The right platform, like Bill360, requires minimal training and saves finance teams hours per week they'd lose to performing manual tasks.
How can accounting automation help my relationship with customers?
Accounting automation simplifies the payment process with customer-managed portals and digital wallets that enable your buyers to pay bills on their time. Bill360 also provides transparency and insight on all invoices, helping bring quick resolution to any disputes about whether an invoice has been paid and when it was sent.
