Invoiced Accounts Recievable Automation Blog

Even if your finance department has a dedicated collections team, the manual processes involved in chasing payments can take valuable resources away from more meaningful work.

Past due invoices are a challenge for many businesses. Over one-third of invoices in the U.S. aren’t paid on time. And it’s not always the customer’s fault–a whopping 11% of invoices are unreceived or get lost in the spam box. 

The good news is that there’s a way to bypass many of these common challenges around payment collections: Automation.

Automated billing allows you to set routine billing functions to autopilot — increasing both billing speed and efficiency. Automating a billing system is an involved process, but the benefits of automation greatly outweigh the costs. If you’re still using manual billing processes, it’s time to consider making the switch. Read on to learn about five steps you can take to automate your billing system.

Many businesses still rely on traditional accounts receivable processes, but may actually be ready for a more sophisticated solution. Historically, accounts receivable processes have been completed manually. However, creating invoices, communicating billing, and collecting payments by hand is time-consuming and can easily be affected by human error.