In this series of posts, we’ve explained how AP automation powered by cloud technology and digital business payments lets you optimize accounts payable from start to finish. The same benefits apply to the accounts receivable process as well. Automating accounts receivable helps you boost efficiency and get paid 2-3x faster by cutting time-consuming and costly manual tasks.
How AR Automation Works
Getting paid is crucial to keeping your business up and running. It stands to reason, then, that finding ways to improve your methods of collecting accounts receivable can make a huge impact on your company’s performance. AR automation from Bill.com gives you superior accounts receivable management and allows you to quickly and efficiently collect the money you’re owed.
With AR automation, getting paid is reduced to four simple steps:
Create an invoice in Bill.com.
Bill.com sends the invoice to the customer with a secure payment link.
Your customer reviews the invoice and enters payment information. If customers miss a due date, Bill.com automatically sends them a reminder to pay.
Digital payment is sent directly to your company’s bank account.
This video breaks down how AR automation works.
When you automate your accounts receivable, there are no more lost or late invoices, and no need to chase down payment from customers. Bill.com even allows you to set up recurring payments, which let your customers pay automatically every time and allow you to get paid even faster. With automated collections, payment due dates are tracked, and customized reminders are sent to customers when a payment is late. AR automation takes the stress out of the accounts receivable process and gets you paid quickly.
Start Getting Paid Faster
At the end of the day, every business wants to get paid quickly. AR automation from Bill.com makes that possible. If you’ve made the switch to digital business payments, it’s time to see how AR automation can make getting paid easier and boost your cash flow. Sign up for a risk-free trial of Bill.com today to find out how you can simplify your digital business payments with AR automation.
Coming up next in the Bill.com Digital Business Payments Series: The advantages of digital business payments vs. paper checks. If you put the two head-to-head, there’s a clear winner. Remember to subscribe to our blog to get notifications of our latest posts.