Embedded B2B Payments
Convenient, fast, and secure payment options so your customers have everything they need to pay their invoices.
Cash flow is critical to every B2B business. Strong sales do not help nearly as much when cash is tied up in unpaid invoices.
A manual accounts receivable process can make the problem worse by slowing invoicing, follow-up, payment collection, and reconciliation. Over time, those delays can increase DSO (Days Sales Outstanding) and make cash flow less predictable.
Not sure if your AR process is part of the problem? Here are five signs to look for.
1. You're always guessing
Do you know how many invoices are outstanding? Or which customers routinely pay past due? And do you know your DSO? Accurate cash flow management is impossible if you can’t answer any of these questions.
AR automation gives finance teams a clearer view of receivables. See which invoices are paid, which are outstanding, and review customer payment history in one place. Bill360’s AI and business insights can help teams spot payment patterns, prioritize follow-up, and make better cash flow decisions.
Some platforms even offer up-to-the-minute updates on crucial metrics like DSO and AR aging. Not only does AR automation strengthen cash flow, but it provides the tools you need to accurately manage it and use it when making important business decisions.
2. You spend hours chasing payments
Late payments don’t just hurt your bottom line. They create a high-stress environment and force employees to spend too much time chasing and less on servicing customers.
With AR automation, you and your team can be proactive by setting up customized workflows and sending tailored payment alerts to whomever, whenever, and how often you choose. You can target specific customers without bothering your prompt-paying buyers.
Rather than having to make uncomfortable phone calls to customers who’ve missed payments, you can seamlessly send these gentle reminders about upcoming due dates. Automated reminders can help reduce late payments by giving customers timely notice before and after an invoice comes due.
3. Customers struggle with your payment process
More than 70% of today’s B2B buyers were born after 1980. They have come to expect simple, one-click payment processes. They don’t want to waste time digging through emails or re-entering their information whenever a payment is due. Friction like this rankles customers and delays payment.
Today’s buyers prefer making digital payments that are done with ease through AR automation. Giving customers convenient digital payment options can reduce payment friction and make it easier for them to pay invoices on time.
4. Your process is scattered
A manual AR process is typically divided among multiple spreadsheets, binders, and PCs. This makes it impossible to find information or answer questions in a timely manner. It also creates friction when reconciling payments. Customers can pay you on time, all the time — but your cash flow takes a hit if those payments aren’t reconciled correctly.
Auto reconciliation can match incoming payments to the appropriate invoices, reducing manual reconciliation work and improving AR visibility. Keeping receivables information in one system also makes it easier for teams to find what they need without searching across spreadsheets, files, and disconnected tools.
5. You rely too heavily on checks
Check fraud continues to escalate yet checks remain a popular form of payment. Nothing puts the brakes on cash flow like checks, which take days or even weeks to arrive and clear. They also set you and your customers up for check fraud.
Giving customers digital payment options can reduce reliance on checks and make the payment process more convenient. AR automation can support payment methods such as ACH and cards, giving customers more ways to pay without relying solely on paper checks.
Reduce AR Friction with Bill360
AR automation from Bill360 fuels cash flow by eliminating clunky, manual processes. Our innovative platform combines payment-ready e-invoicing, auto reconciliation, and payment processing to get our clients paid an average of 36% faster than their current process. Faster payments result in stronger cash flow, which is easy to manage thanks to our dashboard that gives you up-to-the-minute status on key metrics like AR aging and DSO.
Looking to improve your cash flow? Download our Software Evaluation Toolkit that features interactive worksheets, checklists, and a step-by-step process to ensure you choose the automation platform that best suits your B2B. Choosing the right AR automation platform can help bring invoicing, payments, reconciliation, and AR visibility into one workflow.
See how Bill360 can simplify your AR process. Schedule a personalized walkthrough.
Frequently Asked Questions
How does a manual AR process hurt cash flow?
A manual AR process can delay invoicing, payment follow-up, collections, and reconciliation. Even when sales are strong, cash tied up in unpaid invoices is unavailable for payroll, inventory, hiring, and other business needs.
How can accounts receivable automation improve cash flow?
Accounts receivable automation can reduce delays by automating repetitive tasks such as invoicing, payment reminders, and reconciliation while giving finance teams better visibility into outstanding invoices. It can also make it easier for customers to pay digitally.
What parts of accounts receivable can be automated?
Accounts receivable automation can reduce manual work across invoice delivery, payment reminders, payment collection, reconciliation, reporting, and customer payment management. The exact capabilities depend on the platform and accounting system being used.
