Kolleno Payments
The best accounts receivable software for enterprise in 2025 include: Kolleno, HighRadius, Sidetrade, Upflow, and Billtrust.
In this guide, we explore each option, comparing their features, benefits, and drawbacks.
Why Enterprises Need Accounts Receivable Software
Enterprises high transaction volumes and operate complex, custom-configured ERPs. As a result, finance teams often find themselves overwhelmed, manually chasing endless invoices, struggling with limited visibility into receivables, and facing inefficiencies in task management.
Implementing specialized accounts receivable software offers a strategic solution to these challenges, providing numerous benefits that enhance financial health and operational performance.
1. Full Visibility into Accounts Receivable & Centralized Operations
A significant advantage of accounts receivable software is full visibility into the financial health of an enterprise. With real-time dashboards and centralized data, businesses can track outstanding invoices, monitor payment statuses, and identify delinquent accounts instantly. This transparency allows finance teams to take proactive measures to minimize bad debt and maintain healthy cash flow.
Moreover, accounts receivable software centralizes data and operations across multiple departments, eliminating silos and ensuring all stakeholders. From finance teams to sales and customer service, all departments can get access to the same up-to-date information. This unified approach leads to better collaboration, faster decision-making, and improved efficiency.
2. Efficient Task & Workflow Management
Enterprises managing large volumes of invoices and payments require streamlined workflows to optimize operations. Accounts receivable software automates task management by assigning follow-ups, scheduling payment reminders, and tracking outstanding collections.
With smart automation and workflow tools, finance teams can:
- Set automated reminders for overdue payments, reducing manual follow-ups.
- Assign tasks to team members based on customer priority and risk level.
- Ensure accountability with real-time updates on completed and pending tasks.
This structured approach prevents missed payments, improves team coordination, and reduces bottlenecks in accounts receivable management.
3. Improved Cash Flow
Timely and accurate invoicing facilitated by accounts receivable automation leads to faster payments, directly enhancing a company’s cash flow. By reducing the Days Sales Outstanding (DSO), businesses can ensure a steady influx of funds, enabling them to meet operational expenses and invest in growth opportunities.
4. Enhanced Efficiency and Productivity
Accounts receivable software automates repetitive and time-consuming tasks such as sending dunning emails, payment tracking, and reconciliations. This automation reduces manual intervention, minimizes errors, and allows finance teams to focus on strategic activities, thereby increasing overall productivity.
5. Better Forecasting and Analytics
Advanced accounts receivable solutions provide real-time analytics and reporting features that offer insights into payment trends and customer behavior. These data-driven insights enable CFOs to make informed decisions, accurately forecast cash flows, and develop effective financial strategies.
6. Strengthened Customer Relationships
Automated and personalized communication regarding invoices and payment reminders fosters transparency and trust with clients. By ensuring that customers are well-informed and by providing convenient payment options, enterprises can enhance customer satisfaction and loyalty.
7. Cost Savings
By automating the accounts receivable process, businesses can significantly reduce labor costs associated with manual data entry, invoice processing, and payment reconciliation. The software’s accuracy also minimizes costly errors that can lead to payment delays or disputes. Additionally, companies may see reduced expenses in areas like printing and mailing as they shift towards electronic invoicing and communication.
Compare all Options
| Software | Best For | Key Features | Pros | Cons |
|---|---|---|---|---|
| Kolleno | AI-powered collections, payments and reconciliation automation for enterprise clients | Automated reminders, real-time dashboard, reconciliation, payables and receivables management | AI-powered automation for collections, payments and reconciliations; Integrated payables & receivables management; Centralized financial dashboard; Seamless integration with ERPs, GoCardless, Avalara | Advanced features may require additional training |
| HighRadius | Large enterprises needing predictive analytics | Credit management, collections, deductions automation, cash application | Comprehensive solution; Scalable for large enterprises | Complex implementation; High cost |
| Sidetrade | Medium to large enterprises seeking order-to-cash automation | Predictive analytics, dispute management, workflow automation | Flow forecasting; Enhanced customer interactions | Limited ERP integration |
| Upflow | B2B companies aiming to optimize cash collection processes | Automated workflows, real-time analytics, CRM integrations | User-friendly interface; Enhanced collaboration tools; Improved cash flow | Limited suitability for very large enterprises |
| Billtrust | Enterprises seeking comprehensive accounts receivable automation | Electronic invoicing, cash application, collections management | Comprehensive AR suite; Scalable for large enterprises; Strong customer payment portals | High cost; Complex implementation |
1. Kolleno
Best for: AI-powered collections, payments and reconciliation automation for entrpise clients
Overview: Kolleno is a comprehensive accounts receivable platform that automates collections, invoicing, reconciliation, and payment processing. Kolleno is the only accounts receivable software that has a built-in AI agent that can answer any question about customer records and communication timelines, provide real-time cash flow analysis, and help enterprises search for any piece of data in the system.
G2 score: 4.9/5 highest-rated solution in invoice-to-cash market
Key Use Cases:
- Collections and Accounts Receivable Management: Provides tools to prioritize and manage collections activities effectively.
- Credit & Risk Management Automation: Automates credit assessment and monitoring, reducing the risk of bad debt.
- Disputes & Deductions Management: Streamlines the process of tracking and resolving customer deductions.
- Cash Application Management: Automates the matching of payments to invoices, improving accuracy and efficiency.
Pros:
- AI-powered automation for collections, payments and reconciliations
- Integrated payables & receivables management
- Centralized financial dashboard
- Seamless integration with ERPs, GoCardless, Avalara
Cons:
- Advanced features may require additional training
2. HighRadius
Best for: Large enterprises needing predictive analytics
Overview: HighRadius offers an AI-powered platform designed to automate and optimize the order-to-cash process. Its solutions encompass credit management, collections, deductions, and cash application.
G2: 4.3/5
Key Use Cases:
- Credit Management Automation
- Collections Management
- Cash Application
Pros:
- Comprehensive Solution: Offers a wide range of features covering all aspects of accounts receivable.
- Scalable for Large Enterprises: Designed to handle the complexities of large organizations with high transaction volumes.
Cons:
- Complex Implementation: The breadth of features may require a longer implementation period and dedicated resources.
- High Cost: The extensive features come with a significant investment, which may be prohibitive for smaller enterprises.
3. Sidetrade
Best for: Medium to large enterprises seeking order-to-cash automation
Overview: Sidetrade offers a platform designed to enhance the order-to-cash process. Its solutions include predictive analytics, dispute management, and workflow automation, aiming to improve cash flow and streamline financial operations.
G2 Rating: N/A
Use Cases:
- Predictive Analytics: Utilizes AI to forecast customer payment behaviors and identify potential risks.
- Dispute Management: Offers integrated tools to manage and resolve payment disputes efficiently.
Pros:
- Flow Forecasting: Predictive tools aid in accurate financial planning.
- Enhanced Customer Interactions: Streamlined dispute management fosters better customer relationships.
Cons:
- Limited ERP Integration
4. Upflow
Best for: B2B companies aiming to optimize cash collection processes
Overview: Upflow is a financial relationship management solution that helps businesses track outstanding invoices and streamline collections through automation. It provides real-time analytics and integrates seamlessly with various accounting software, enabling companies to enhance their cash flow management.
G2 Rating: 4.7/5
Key Features:
- Automated Workflows: Simplifies the collections process by automating routine tasks and communications.
- Real-Time Analytics: Provides insights into payment trends and customer behaviors to inform decision-making.
- Seamless Integrations: Integrates with popular accounting and invoicing platforms for a unified approach.
Pros:
- User-Friendly Interface: Intuitive design makes it easy for teams to navigate and utilize the platform effectively.
- Enhanced Collaboration Tools: Facilitates better communication between finance teams and customers.
- Improved Cash Flow: Automation and analytics contribute to faster payments and reduced DSO.
Cons:
- Limited Suitability for Very Large Enterprises: While robust, it may not meet the complex needs of very large organizations.
5. Billtrust
Best for: Enterprises seeking comprehensive accounts receivable automation
Overview: Billtrust provides a suite of AI-powered accounts receivable solutions designed to automate invoicing, payments, cash application, and collections. Its platform emphasizes automation and customer collaboration, offering electronic invoice presentment and payment capabilities to streamline the order-to-cash process.
G2 Rating: 4.4/5
Key Use Cases:
- Electronic Invoicing: Automates the delivery of invoices to customers, reducing manual effort and accelerating payment cycles.
- Cash Application: Utilizes machine learning to match payments to invoices accurately, improving efficiency.
- Collections Management: Provides tools to prioritize and manage collections activities effectively.
Pros:
- Comprehensive AR Suite: Offers a wide range of features covering all aspects of accounts receivable.
- Scalable for Large Enterprises: Designed to handle the complexities of large organizations with high transaction volumes.
- Strong Customer Payment Portals: Enhances customer experience by providing easy access to invoices and payment options.
Cons:
- High Cost: The extensive features come with a significant investment, which may be prohibitive for smaller enterprises.
- Complex Implementation: The breadth of features may require a longer implementation period and dedicated resources.
Concluding Thoughts
Incorporating accounts receivable software is a strategic move for enterprises aiming to optimize their financial operations. By enhancing cash flow, improving efficiency, providing valuable insights, strengthening customer relationships, and reducing costs, accounts receivable software serves as a vital tool in achieving financial stability and supporting business growth.
FAQs
1. What is accounts receivable in ERP?
Accounts receivable (AR) in ERP refers to the module that manages outstanding invoices and payments due from customers. It tracks billing, collections, credit management, and cash flow.
2. What is the best KPI for accounts receivable?
The Days Sales Outstanding (DSO) is the best KPI for accounts receivable. It measures the average number of days it takes to collect payments from customers.
3. Is accounts receivable considered bookkeeping?
Yes, accounts receivable is a part of bookkeeping. It involves recording invoices, tracking payments, and managing outstanding balances in financial records.
4.What is the formula for accounts receivable?
Accounts Receivable = Total Credit Sales – Cash Collections
Alternatively, to calculate DSO: DSO = (Accounts Receivable / Total Credit Sales) × Number of Days
5. What software is used for accounts receivable?
Popular accounts receivable software includes Kolleno, Highradius, Billtrust, Upflow, and Sidetrade which help enterprises automate invoicing, collections, and payment tracking.
