Best AR Automation Software

Accounts receivable (AR) automation software helps companies optimize their customer invoicing and payments processes. Its purpose is to ensure that customers pay for the goods or services they received. This type of software is used to streamline the financial transactions between a company and its customers. It is used by accountants and the employees responsible for accounts receivable, but can also be used by managers and executives to track the effectiveness of the AR team or department. AR automation simplifies the processing of large volumes of customer invoices, which can significantly reduce the time accountants spend collecting payments from customers. It can also increase the accuracy of invoicing and payments processes, which has a positive impact on the cash flow of the company and its profitability. From a compliance perspective, AR automation provides valuable information for the preparation of regulatory financial reporting.

While all accounting solutions include features for AR management, AR automation is usually delivered as a separate solution providing advanced functionality. It is therefore important to be able to integrate AR automation software with accounting solutions and accounting modules of ERP systems. Medium to large companies may also benefit from integration with corporate performance management (CPM) software.

To qualify for inclusion in the AR Automation category, a product must:

  • Manage different types of customer transactions such as invoices, credits, or payments
  • Capture and process large amounts of transactions in an efficient manner with minimum human involvement
  • Match invoices, credits, and payments with quotes and sales orders to ensure the correct amounts are being processed
  • Provide workflows that can be used to define rules and exceptions for AR processing
  • Include customizable approval processes for all types of AR transactions
  • Deliver reports and analytics on the status of invoices or payments, customer credit, or transaction history
  • Integrate with accounting software or accounting modules of ERP solutions
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    Has your business lost control of accounts receivable? Late paying customers killing your cash flow? Then you need Invoiced, a modern billing system that gives you billing super powers. Invoiced automates the most tedious billing tasks, like sending out invoices on time, following up with late paying customers, and reconciling incoming invoice payments. We also help businesses tackle more complex billing processes, like recurring billing and payment plans.

    We make collecting money fast, easy, and highly predictable. YayPay is a cloud-based, predictive accounts receivable automation solution that leverages data and automatic payment communications to accelerate collections. YayPay integrates with multiple accounting, billing, and CRM applications for a complete look into the collections process to help organizations better predict cash flow and increase revenue.

    Armatic is a modern AR management and billing platform, providing automation, enablement & insights from proposal to payment. Built from the ground up with interoperability, Armatic enhances the power of your existing accounting/ERP system with integrated communications, workflow automation and powerful business intelligence. Key Benefits Include: Boost Cash Flow - Fully automated AR/Collections drastically reduces time to payment (DSO). Our advanced rules engine can deliver emails, SMS and Letters automatically, ensuring the highest likelihood of payment, while enabling prompt, efficient customer communication. Enhanced/Streamlined Billing - Enable subscription/recurring billing, progress billing, automatic payments, payment plans, late fees, coupons, online billing and interactive customer portals, all integrated with your current systems. Reduce Resources - Streamline processes and Increase efficiency/accuracy across finance, sales and support teams with dynamic automated workflows, self service options and automatic sync/reconciliation. Drive Revenue - Close more business with integrated proposals, electronic signatures. Centrally Manage agreements and price lists, share documents, capture payments and automatically start billing at contract. Unlock Data Insights - Increase cross team communication and visibility with communication tracking & customer/user activity logs. Analyze results performance with MRR, collections & churn reports/projections.

    Anytime Collect automated accounts receivable software puts the entire A/R process on auto-pilot, allowing collectors to save time and focus on building key customer relationships. Users are able to automate email, including attachment of supporting documents such as invoices, purchase orders, and more. Available online bill pay allows customers to pay by clicking an email link and entering through a secure payment portal. Anytime Collect has a prioritized actions list that tells you who needs to called right away, whether they need to be called or emailed, their account info and past communication notes. Even more features are available and are shown in a demo.

    Sage Intacct accounts receivable solutions automate the entire invoicing and collections process to give fast, efficient, and automated accounts receivable management. A faster cash cycle improves business performance and increases customer satisfaction.

    Workday Revenue Management gives you the flexibility to manage contracts, billing, collection, accounting, and analytics all from a single system. Plus, built-in support for ASC 605, ASC 606, and IFRS 15 enables smooth migration and dual reporting.

    Medlin Accounts Receivable & Invoice Software is a simple, easy-to-use program to help you handle your customer billing and sales. Medlin Accounts Receivable and Invoicing is a budget-friendly solution for you which can handle invoices, statements, delinquent notices, and sales summaries.

    This ERP financial software runs on the in-memory platform of SAP HANA, and supports financial planning and accounting, accounting and financial close, treasury and cash management, accounts payable and receivable, risk management, and more.

    ARC Collections automate routine tasks with over 150 notifications that can be tailored to business, allowing collectors to focus on the customers that can't (or won't) pay. It has access to accurate data, proactive reminders, and intuitive online tools remove friction from the AR process, allowing customers to collaborate and pay when ready. Leveraging data from current ERP and billing system, ARC enables a holistic, central view of the status of all receivables.

    With BeanworksAP, your invoices are entered with guaranteed accuracy and stored securely in the cloud. Leave the data entry to us while your team tackles more strategic accounting tasks. Then use SmartCoding to intelligently code invoices along with automatic PO-to-invoice matching for seriously fast AP.

    Collection Management Software for Accounts Receivable provide evolving, elegant and customer-focused debt collection systems including accounts receivable and collections management software. The Accounts Receivable (ARM) application and the individual components of QwikSolve Enterprise Solution Suite solve the unique accounts receivable and collection management needs of our diverse mix of customers. Importantly, this allows them to greatly reduce days in collections and increase cash flow.

    AR Automation is a convenient eBilling and ePayment options to create, send, and track electronic invoices and payments along with support documentation. It provides intelligence on invoice opening and triggers resends, paper billing, phone calls or other dunning based on business rules.

    DataServ is a Software as a Service (SaaS) solution that streamlines and lowers costs within accounts payable via our Purchase to Pay (P2P) solution set (including Travel & Expense Report Automation (T&E) and Purchase Order Requisition Automation), accounts receivable with Quote to Cash (Q2C), and human resources through Hire to Retire (H2R) by capturing documents and data and automating business processes.

    Accounts Receivable software solution was designed to completely automate the delivery and archiving of customer invoices.

    ezyCollect is an accounts receivable software for small and medium businesses.

    Flywire provides an effortless international invoicing experience, from systems integration to invoice management.

    Accounts Receivable Management Software provides the ability to reduce order processing costs through data capture automation, provide quick, easy access to proof of delivery information, improve billing processes to reduce DSO, increase levels of cash flow through prompt payments and ensure records retention compliance.

    HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company. The HighRadius™ Integrated Receivables platform optimizes cash flow through automation of receivables and payments processes across credit, collections, cash application, deductions, electronic billing and payment processing. Powered by the Rivana™ Artificial Intelligence Engine, HighRadius Integrated Receivables enables teams to leverage machine learning for accurate decision making and future outcomes. The radiusOne™ B2B payment network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months.

    With OnBase by Hyland automating manual portions of the process, employers minimize operational costs while increasing visibility into cash flow, improving accuracy and accelerating payment application.

    Accounts Receivable Automation automates delivery of invoices, statements and reports to clients and eliminates print and mail costs and improve client service experience.

    Combining data capture technologies with centralized content management software empowers the accounts receivable department to process and review critical documentation faster. With OnBase AR solutions, manual data entry is turned into automated data updates throughout your systems and scattered, inaccessible documents and data becomes centralized receivables management.

    Modern online payments & checkout. Stop paying transaction fees. Accept multiple payment methods: credit cards, echeck, and ecash/bitcoin at 0%.

    ReconArt is the provider of modern solutions for account reconciliation and financial close management.

    Rimilia provides a complete accounts receivable platform using intelligent machine learning to enable control and efficiency, seamlessly integrating into your ERP

    Slingshot's Accounts Receivable software efficiently helps you manage credit, know your cash position, and deploy any number of collections tools to stay on top of debtor processing.

    SoftCo delivers a Smart Automation solution that enables organizations to fully automate their procure-to-pay process faster and easier than ever before. SoftCo Procure-to-Pay automates the finance process from procurement to invoice automation and payment posting to the organization's financial or ERP system.

    eFLOW Remit solution provides security, scalability, compliance and control. It provides a secure repository for historical transaction content management, along with customer service features such as exceptions decisioning, search, item maintenance, data exchange with other systems, and reporting. eFLOW Remit ingests more than 500 million images monthly—and has processed more than 50 billion transactions.

    Vanguard Systems' AR automation solution is a platform-agnostic system that can help business cut the time from invoice to payment substantially. The system effectively helps manage your accounts by automating repetitive tasks and allowing the team to focus on revenue-building work like collections and customer relationship maintenance.