Embedded B2B Payments
Convenient, fast, and secure payment options so your customers have everything they need to pay their invoices.
Cash flow keeps growing businesses moving. When invoices remain unpaid, receivables begin to age, making cash flow less predictable and creating more work for AR teams. Below are several common causes of aging accounts receivable and how AR automation can help reduce delays.
Here are several reasons accounts receivable begin to age:
Customer missed the invoice email
Whether accidentally deleted or lost under a pile, it’s not uncommon for invoice emails to get overlooked. For this reason, sending reminders and alerts are essential. However, they can take time if done with manual phone calls - and those calls can damage your relationship with customers.
Bill360 enables you to set up automated workflows that send proactive payment reminders based on the timing and frequency you choose. That way, you can reach out to customers before their payments are past due. Automated reminders give customers timely notice while giving your team a more consistent process for following up before invoices become overdue.
You forgot to invoice
If you’re a B2B company with a high sales transaction rate, but little automation and support for invoicing and payment processing, it’s easy to forget to invoice the clients.
Electronic invoicing helps businesses create and send accurate invoices more efficiently while giving customers convenient ways to pay. All you have to do is type in the amount and hit send and it lands immediately in your customer's inbox. You can also attach messages and documents and embed 'pay now' links, enabling them to pay immediately.
Bill360 also supports batch invoicing, allowing businesses to send multiple invoices at once and giving customers the ability to pay multiple invoices together.
Unanswered invoice questions
A customer might withhold payment if they still have questions about any number of aspects pertaining to your invoice. However, if they're forced to deal with ineffective chatbots or outsourced answering services, they may never get the answers they need.
Bill360 gives your customers 24/7 access to their own portal that enables them to chat with you in real time and get instant answers to questions about their invoice, helping reduce payment delays.
Limited payment options
Is your B2B company heavily reliant on checks? Checks can take days and sometimes weeks to arrive and clear - if they arrive at all considering check fraud remains a very real threat in the B2B space.
Give your customers options with Bill360. Through their portal, your customers can set up and manage their own digital wallet and make one-touch payments via ACH and with credit cards. These methods are faster and far more secure than checks, and provide the simple, hassle-free payment experience today's B2B buyers crave.
Invoice errors
Invoice errors such as incorrect amounts, missing information, or unclear due dates can create disputes and delay payment. Automation can reduce the risk of manual errors while giving both teams better visibility into invoice status.
Creating an accurate e-invoice with Bill360 is as simple as clicking two buttons, greatly reducing or eliminating the risk of mistakes. You also don't have to worry about errors caused by a burned out or tired staff.
Reduce AR Friction with Bill360
Bill360 brings electronic invoicing, automated payment reminders, payment processing, auto reconciliation, and customer communication into one AR workflow. By reducing manual steps and giving teams better visibility into outstanding invoices, businesses can spend less time chasing payments and make cash flow more predictable.
Check out our video library to catch our platform in action and hear real success stories from real Bill360 clients.
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Frequently Asked Questions
Is accounts receivable automation only for large companies?
No. Accounts receivable automation can be especially useful for growing B2B businesses that spend significant time creating invoices, following up on payments, reconciling transactions, and answering payment questions.
What is accounts receivable aging?
Accounts receivable aging measures how long customer invoices have remained unpaid. Aging reports typically group outstanding invoices by time periods, helping businesses identify overdue balances and prioritize collection activity.
How can accounts receivable automation reduce aging?
Accounts receivable automation can help reduce delays by automating invoice delivery and reminders, simplifying customer payments, improving visibility into outstanding balances, and reducing manual reconciliation work.
