Embedded B2B Payments
Convenient, fast, and secure payment options so your customers have everything they need to pay their invoices.
B2B plant nurseries have long relied on manual invoicing and getting paid with paper checks. But B2B buyers are younger. Check fraud is a serious problem. And climate change is affecting growing patterns, making it more difficult for nurseries to sustain off-peak seasons.
The time is now for nurseries to embrace accounting automation. It’s a surefire way to modernize the payment process and accurately predict and monitor cash flow.
This blog explains how accounting automation, especially when it comes to an AR (accounts receivable) process, benefits B2B nurseries and their customers.
Flexible payment options
A majority of B2B buyers were born after 1980. They’re not accustomed and perhaps have no idea how to write out a check. And with check fraud on the rise, it’s important nurseries minimize or put an end to this form of payment.
Nurseries can offer their customers fast, secure payment options through accounting automation. Using self-service portals, buyers can make payments digitally through ACH and with credit cards. They can also set up and manage digital wallets. That way, they don’t have to re-enter their information every time they pay bills. This is the simplicity and convenience today’s B2B buyers crave.
Choose an automation platform that also processes payments. Doing so saves you thousands on swipe fees whenever customers pay with credit cards.
Rather than waiting more than a week for checks to arrive and clear, nurseries are paid in a day or two with accounting automation. More importantly, you and your customers are shielded from check fraud.
Better cash flow management
Seasonal fluctuations in revenue are part of operating a plant nursery. But that doesn’t make it any easier, especially when it comes to cash flow.
The right AR automation platform does more than accelerate payments. It provides full transparency into your financial health. That includes real-time updates on crucial metrics like AR aging and DSO (Days Sales Outstanding), which measures how long it takes you to get paid. You can better gauge when a slow season is coming and make the necessary adjustments to ensure you have enough cash to cover expenses. Getting paid faster also stabilizes your cash flow.
AR automation enables you to see which customers have the most overdue invoices and proactively reach out to them. Once you know who to target, you can customize automated workflows that send payment reminders to whomever, whenever, and how often you choose.
More time for plants
Time is valuable to all industries. But it’s of critical importance to nurseries because most of your stock is alive and perishable and can die without proper care.
You hired your team because they know plants. Automating your AR process ensures your employees spend time on watering schedules, pruning, and pest and insect management. That’s hard to do if your staff spends four hours a week - or more than 200 a year, the equivalent of five work weeks – chasing down late payments or dealing with a manual AR process.
Accounting automation gives your team its time back and your customers a product that’s beautiful and well maintained.
Reduces human error
Whether it’s bulk items like soil and much, solid goods like pots and stakes, and countless variations of plants, nurseries have more SKUs (stock keeping units) than most. That can make invoicing difficult, especially when done manually.
AR automation simply pulls information from the orders and creates and distributes payment-ready invoices. This eliminates the risk of human error, saves your team from manually entering hundreds of line items, and gets the invoice to your customer faster. These invoices are embedded with payment links that simplify the process and get you paid faster. And because it grows along with you, there’s no risk of AR automation lagging or getting burnt out during busy seasons or a sudden surge in business.
Modernize your nursery with Bill360
Accounting automation from Bill360 was built specifically for B2B companies like your nursery. We make it simple for customers to pay you digitally, accelerating the collection process and eliminating the risk of check fraud.
Our embedded platform does it all: e-invoicing, auto reconciliation, and payment processing for credit cards. That’s why Bill360’s clients get paid an average of 36% and saves up to 15 hours a week. We make sure your employees spend more time digging in the dirt and less time digging through overdue invoices.
Schedule a personalized demo and see how Bill360 solves pain points specific to your B2B nursery.
