The 12 Best Accounts Receivable Software 2025

Struggling with unpaid invoices and messy financial processes? You’re not alone. For many businesses, outdated systems and manual workflows slow down cash flow and hurt growth. Enter accounts receivable software.

These tools simplify billing, automate follow-ups, and give you real-time insights into your finances. Ready to streamline your operations? Let’s explore the 12 best options for 2025.

What is Accounts Receivable Software?

Accounts receivable software helps businesses track, manage, and collect payments from customers. It replaces manual processes with automated tools, making it easier to send invoices, follow up on payments, and monitor cash flow.

Think of it as your financial assistant. It ensures invoices are accurate, reminders are sent on time, and payments are recorded seamlessly. No more chasing overdue invoices or manually updating spreadsheets.

This software also integrates with existing accounting systems or ERP platforms, giving you a complete view of your financial health. With features like advanced reporting, automation, and data security, it’s a must-have for businesses aiming to streamline financial operations and boost cash flow.

Key Features to Look For in Accounts Receivable Software

When choosing accounts receivable software, look for features that simplify processes, improve cash flow, and enhance financial management. Here are the must-haves:

• Automation tools: Eliminate repetitive tasks like sending reminders, tracking invoices, and matching payments. This saves time and reduces errors.
• Advanced reporting capabilities: Generate detailed reports on cash flow, outstanding invoices, and payment trends to make informed financial decisions.
• Integration with accounting systems: Seamlessly connect with existing accounting software or ERP systems to ensure data consistency and easy management.
• Data security: Protect sensitive financial data with features like encryption, multi-factor authentication, and secure cloud storage.
• Customer relationship management: Manage communication with customers efficiently, ensuring professional follow-ups and timely resolutions.
• Multichannel invoicing: Send invoices through various platforms like email, portals, or even print to match customer preferences.
• Real-time cash flow insights: Monitor payment status, overdue invoices, and overall cash flow to stay on top of your financial operations.
• Scalability: Ensure the software can grow with your business, handling increasing invoice volumes and complex workflows.
• Customizable workflows: Adapt the platform to your business processes with adjustable templates, reminders, and approval chains.

These features help streamline complex financial processes, improve cash flow management, and empower finance teams to focus on strategic tasks rather than manual data entry.

The 12 Best Accounts Receivable Software in 2025

Looking to select the right accounts receivable software? Here are the 12 best options currently on the market.

Software	Key Features	Pricing
Kolleno	Automated collections, customizable workflows, AI-powered insights, seamless integrations, client payment portal	Custom pricing; Contact Kolleno for details
Sidetrade	AI-driven automation, predictive analytics, integrated dispute management, comprehensive reporting	Custom pricing; Contact Sidetrade for details
Upflow	Automated workflows, real-time analytics, seamless integrations, customer payment portal, team collaboration tools	Discover: Free; Grow: $440/month; Scale: $880/month; Enterprise: Custom pricing
Hiver	Shared inboxes, email assignment, workflow automation, analytics and reporting, team collaboration tools	Free plan; Lite: $19/user/month; Growth: $29/user/month; Pro: $49/user/month; Elite: Custom pricing
BlackLine	Accounts receivable automation, cash application, AR intelligence, collections management, credit and risk management	Custom pricing; Contact BlackLine for details
Invoiced	Automated invoicing, payment processing, collections management, cash application, reporting and analytics	Plans start at $400/month; Contact Invoiced for detailed pricing
Chaser	Automated invoice reminders, payment portal, credit control insights, communication tracking, accounting software integration	Basic: $50/month; Standard: $158/month; Enterprise: $417/month; Custom pricing available
Quadient	Automated collections, predictive analytics, comprehensive dashboard, seamless integrations, secure payment portal	Starting at $500/month; Contact Quadient for detailed pricing
Esker	Credit management, invoice delivery, payment processing, cash application, collections management	Custom pricing; Contact Esker for details
Gaviti	Automated A/R management, collections analytics, customer self-service portal, cash application, dispute management	Modular pricing based on features; Contact Gaviti for tailored quote
HighRadius	AI-prioritized worklists, automated cash application, credit management, deductions management, EIPP	Custom pricing; Contact HighRadius for details
Bill	Automated invoicing, payment tracking, secure payment processing, two-way sync with accounting software	Essentials: $45/user/month; Team: $55/user/month; Corporate: $79/user/month; Enterprise: Custom pricing

1. Kolleno

Kolleno is a comprehensive accounts receivable platform that unifies receivables, payments, and reconciliation into a single, user-friendly interface. Designed for finance professionals, it leverages advanced AI capabilities to automate and optimize back-office processes, enhancing efficiency and accuracy in financial operations.

Key Features

• Automated Collections: Kolleno streamlines the collections process by automating outbound communications and internal task management, reducing manual effort and minimizing errors.
• Customizable Workflows: The platform offers highly customizable workflows, allowing businesses to tailor the collections process to their specific needs and customer profiles.
• AI-Powered Insights: Utilizing advanced AI, Kolleno provides predictive analytics and real-time insights, enabling proactive decision-making and improved cash flow management.
• Seamless Integrations: Kolleno integrates with various accounting systems, ERPs, and CRMs, ensuring data consistency and streamlined financial reporting.
• Client Payment Portal: The platform includes a firm-branded customer portal that consolidates all payment providers, offering clients a self-service payment experience with multiple payment options.

Benefits

• Improved Cash Flow: By automating collections and providing real-time analytics, Kolleno helps businesses reduce Days Sales Outstanding (DSO) and increase on-time payments, enhancing overall cash flow.
• Operational Efficiency: Automation of repetitive tasks and customizable workflows free up resources, allowing finance teams to focus on strategic activities and reducing the risk of manual errors.
• Enhanced Customer Relationships: Centralized communication and payment history enable better customer service, fostering positive client relationships and facilitating quicker dispute resolution.
• Data-Driven Decision Making: Access to real-time analytics and reports empowers businesses to make informed decisions, reducing financial risk and improving overall financial performance.

Pricing

Kolleno offers customized pricing plans tailored to the specific needs of each business. To obtain detailed pricing information, it’s recommended to contact Kolleno directly or request a demo through their official website.

Best For

Kolleno is ideal for mid-sized to enterprise-level businesses seeking to automate and optimize their accounts receivable processes. It’s particularly beneficial for companies aiming to reduce manual tasks, improve cash flow, and enhance customer relationships through a unified platform. Industries with high invoice volumes and complex financial workflows will find Kolleno’s features especially advantageous.

makes it suitable for growing businesses that anticipate increased transaction volumes.

2. Sidetrade

Sidetrade is an AI-powered accounts receivable platform designed to automate and optimize the order-to-cash process. By leveraging artificial intelligence, Sidetrade enhances cash collection efficiency and provides predictive insights into customer payment behaviors.

Key Features

• AI-Driven Automation: Utilizes artificial intelligence to recommend optimal dunning actions and timing, streamlining the collection process.
• Predictive Analytics: Analyzes historical payment data to forecast customer payment behaviors, enabling proactive credit risk management.
• Integrated Dispute Management: Consolidates all customer communications and disputes into a single view, facilitating efficient resolution.
• Comprehensive Reporting: Offers real-time dashboards and data visualization tools to monitor key performance indicators (KPIs) such as Days Sales Outstanding (DSO) and aging balances.

Benefits

• Enhanced Collection Efficiency: AI-driven recommendations and automation lead to significant improvements in credit management team productivity.
• Improved Cash Flow: Accelerated cash collection processes contribute to better working capital management and reduced bad debt.
• Informed Decision-Making: Predictive analytics provide actionable insights, allowing finance teams to make data-driven decisions regarding credit and collections.
• Enhanced Customer Satisfaction: Efficient dispute resolution and transparent communication improve customer relationships and satisfaction.

Pricing

Sidetrade offers customized pricing based on the specific needs and size of the business. For detailed pricing information, it’s recommended to contact Sidetrade directly through their official website.

Best For

Sidetrade is ideal for medium to large enterprises seeking to automate and enhance their accounts receivable processes. It’s particularly beneficial for organizations aiming to leverage AI for predictive insights, improve cash flow, and streamline complex financial operations. Industries with high transaction volumes and those requiring robust dispute management will find Sidetrade especially advantageous.

By implementing Sidetrade, businesses can achieve greater efficiency in their financial operations, reduce manual intervention, and gain a competitive edge through advanced automation and analytics.

3. Upflow

Upflow is a comprehensive accounts receivable management platform designed to help B2B companies streamline their cash collection processes and improve cash flow. By automating invoice follow-ups and providing actionable insights, Upflow enables businesses to reduce unpaid invoices and enhance financial performance.

Key Features

• Automated Workflows: Customize and automate email reminders and follow-ups to ensure timely customer payments, reducing manual intervention.
• Real-Time Analytics: Access dashboards displaying key A/R metrics, such as Days Sales Outstanding (DSO), to monitor financial health and identify at-risk accounts.
• Seamless Integrations: Connect effortlessly with existing accounting systems like QuickBooks, Xero, and NetSuite, ensuring data consistency and streamlined operations.
• Customer Payment Portal: Provide clients with a dedicated portal offering multiple payment options, including credit cards, ACH, and wire transfers, to facilitate prompt payments.
• Team Collaboration Tools: Enable finance and sales teams to collaborate effectively within the platform, improving communication and coordination in the collection process.

Benefits

• Reduced DSO: Implementing systematic and proactive A/R processes helps businesses get paid faster, directly impacting cash flow.
• Time Efficiency: Automating repetitive tasks allows finance teams to focus on strategic activities, enhancing overall productivity.
• Enhanced Visibility: Real-time data and comprehensive dashboards provide insights into financial operations, aiding in informed decision-making.
• Improved Customer Experience: Offering a user-friendly payment portal with various options simplifies the payment process for customers, strengthening business relationships.

Pricing

Upflow offers flexible pricing plans tailored to different business sizes:

• Discover: Free plan providing access to A/R analytics, suitable for businesses looking to benchmark their current approach.
• Grow: $440 per month, designed for companies with up to $3 million in annual revenue, including advanced features and support.
• Scale: $880 per month, ideal for businesses with up to $6 million in annual revenue, offering comprehensive A/R management tools.
• Enterprise: Custom pricing for organizations with annual revenue above $6 million, providing tailored solutions and premium support.

Best For

Upflow is best suited for B2B companies aiming to optimize their accounts receivable processes and enhance cash flow management. It’s particularly beneficial for businesses seeking to reduce manual data entry, gain real-time financial insights, and improve team collaboration. The platform’s scalability makes it ideal for growing companies anticipating increased transaction volumes and complexity.

By leveraging Upflow’s automation tools and analytics, businesses can streamline complex financial processes, ensure data security, and focus more on strategic tasks that drive growth.

4. Hiver

Hiver is a customer service platform that integrates directly with Gmail, enabling teams to manage accounts receivable communications efficiently within their existing email interface. By centralizing customer interactions, Hiver streamlines financial operations and enhances team collaboration.

Key Features

• Shared Inboxes: Manage group email addresses like invoices@ or payments@ directly from Gmail, ensuring all team members have access to relevant communications.
• Email Assignment: Assign incoming emails to specific team members with a single click, promoting accountability and clear task distribution.
• Collaborative Tools: Utilize @mentions and shared drafts to discuss and draft responses collaboratively without leaving the email thread.
• Workflow Automation: Set up rule-based automations to categorize and assign emails based on predefined criteria, reducing manual effort.
• Analytics and Reporting: Access insights into team performance and email response times to identify areas for improvement.

Benefits

• Enhanced Team Collaboration: Facilitate seamless communication among finance team members, leading to quicker resolution of accounts receivable queries.
• Improved Efficiency: Automating repetitive tasks allows teams to focus on strategic activities, accelerating cash collections.
• Better Visibility: Centralized email management provides a clear overview of all customer interactions, ensuring no communication is overlooked.
• Ease of Use: Operating within Gmail minimizes the learning curve, enabling teams to adopt the system rapidly.

Pricing

Hiver offers several pricing plans to accommodate various business needs:

• Free: Includes multi-channel shared inboxes, email management, live chat, WhatsApp, voice, knowledge base, team collaboration, and Slack integration.
• Lite: $19 per user/month (billed annually) or $24 per user/month (billed monthly), offering additional features like workflow automations and analytics for conversation data.
• Growth: $29 per user/month (billed annually) or $34 per user/month (billed monthly), including advanced integrations and analytics for team performance.
• Pro: $49 per user/month (billed annually) or $59 per user/month (billed monthly), providing features like chatbots, CSAT surveys, and advanced analytics.
• Elite: Custom pricing for large teams requiring advanced features or managing multiple shared inboxes, with offerings like skill-based routing and custom roles.

Best For

Hiver is ideal for finance teams seeking to manage accounts receivable communications directly within Gmail. It’s particularly beneficial for organizations aiming to enhance team collaboration, automate workflows, and gain better visibility into customer interactions without transitioning to a separate platform. Its user-friendly interface ensures a smooth adoption process, making it suitable for teams of all sizes.

By leveraging Hiver’s capabilities, businesses can streamline their accounts receivable processes, leading to improved cash flow management and overall financial performance.

5. BlackLine

BlackLine is a cloud-based financial operations platform that automates and streamlines accounting processes, including accounts receivable (AR) management. Designed for mid-size to large enterprises, BlackLine enhances efficiency, accuracy, and visibility in financial workflows.

Key Features

• Accounts Receivable Automation: Automates the invoice-to-cash cycle, reducing manual intervention and accelerating cash collections.
• Cash Application: Utilizes AI to match payments to invoices swiftly, minimizing unapplied cash and enhancing cash flow.
• AR Intelligence: Provides real-time analytics on customer payment behaviors, aiding in risk management and strategic decision-making.
• Collections Management: Centralizes and automates collection activities, improving efficiency and reducing days sales outstanding (DSO).
• Credit & Risk Management: Offers tools to assess and monitor customer creditworthiness, mitigating financial risks.

Benefits

• Enhanced Efficiency: Automation reduces manual tasks, allowing finance teams to focus on strategic initiatives.
• Improved Cash Flow: Accelerated payment processing and effective collections lead to better cash flow management.
• Data-Driven Decisions: Real-time insights enable informed decision-making, optimizing working capital and reducing risk.
• Scalability: The platform supports growing businesses, adapting to increasing transaction volumes and complex financial processes.
• Regulatory Compliance: Ensures adherence to accounting standards and regulations, reducing audit risks.

Pricing

BlackLine employs a subscription-based pricing model, with costs varying based on the number of users and specific modules selected. Additional fees may apply for implementation, training, and integration services. For detailed pricing information, it’s recommended to contact BlackLine directly to receive a customized quote tailored to your organization’s needs.

Best For

BlackLine is ideal for mid-size to large enterprises across various industries, including financial services, healthcare, retail, and technology. It’s particularly beneficial for organizations seeking to automate complex accounting processes, enhance financial reporting accuracy, and gain comprehensive visibility into financial operations. Companies aiming to reduce manual labor, ensure compliance, and make data-driven decisions will find BlackLine’s suite of tools advantageous.

By implementing BlackLine, businesses can transform their accounts receivable processes, leading to improved financial performance and operational excellence.

6. Invoiced

Invoiced is a cloud-based accounts receivable automation platform designed to help businesses streamline their invoicing and payment processes. By automating collections and simplifying payments, Invoiced enables companies to manage their cash flow more effectively and reduce manual workloads.

Key Features

• Automated Invoicing: Generate and send invoices automatically, minimizing manual data entry and reducing errors.
• Payment Processing: Accept various payment methods, including credit cards and ACH transfers, through a secure customer payment portal.
• Collections Management: Automate follow-ups and reminders for overdue invoices, enhancing the efficiency of the collections process.
• Cash Application: Automatically match payments to invoices, ensuring accurate financial records and reducing the time spent on reconciliation.
• Reporting and Analytics: Access real-time insights into accounts receivable performance, aiding in informed decision-making.

Benefits

• Improved Cash Flow: Accelerate payment collections and reduce Days Sales Outstanding (DSO), leading to better cash flow management.
• Enhanced Efficiency: Automating repetitive tasks allows finance teams to focus on strategic activities, increasing overall productivity.
• Reduced Errors: Automation minimizes manual data entry, decreasing the likelihood of errors in financial transactions.
• Scalability: Invoiced’s flexible pricing plans and features support business growth without disruption, adapting seamlessly as your company expands.

Pricing

Invoiced offers scalable pricing plans tailored to different business needs. As your business grows, Invoiced adapts to your requirements, ensuring continued efficiency in financial operations. For detailed pricing information, it’s recommended to contact Invoiced directly or visit their official website.

Best For

Invoiced is ideal for businesses of all sizes seeking to automate their accounts receivable processes. It’s particularly beneficial for companies aiming to eliminate manual errors, speed up payments, and reduce Days Sales Outstanding (DSO). With its customizable features, Invoiced caters to both small businesses and larger enterprises with high transaction volumes.

By implementing Invoiced, businesses can streamline their financial operations, improve cash flow, and reduce the time and resources required to manage and collect payments.

7. Chaser

Chaser is an accounts receivable automation software designed to help businesses streamline their credit control processes and improve cash flow. By automating invoice reminders and providing tools for efficient payment collection, Chaser enables companies to reduce late payments while maintaining positive customer relationships.

Key Features

• Automated Invoice Reminders: Schedule and send personalized payment reminders via email and SMS, ensuring timely follow-ups without manual intervention.
• Payment Portal: Offer customers a dedicated portal with multiple payment options, simplifying the payment process and encouraging prompt settlements.
• Credit Control Insights: Access AI-powered analytics to prioritize debtors, predict late payments, and determine optimal times for chasing invoices.
• Communication Tracking: Automatically log all debtor communications, including emails and calls, providing a comprehensive history for each customer.
• Accounting Software Integration: Seamlessly integrate with popular accounting systems like Xero, QuickBooks, and Sage, ensuring data consistency and reducing manual data entry.

Benefits

• Accelerated Payments: Users report getting invoices paid over 54 days sooner, significantly enhancing cash flow.
• Reduced Days Sales Outstanding (DSO): Achieve a reduction in DSO by up to 75%, leading to improved financial health.
• Time Savings: Automating accounts receivable tasks saves finance teams more than 15 hours per week, allowing focus on strategic activities.
• Enhanced Customer Relationships: Personalized and timely communications help maintain positive interactions with clients, even when chasing payments.

Pricing

Chaser offers tiered pricing plans to accommodate various business sizes and needs:

• Basic: Starting at $50 per month, suitable for small businesses with straightforward accounts receivable requirements.
• Standard: Priced at $158 per month, this plan includes additional features like automated debtor phone calls and free SMS credits.
• Enterprise: At $417 per month, this plan supports multi-entity organizations and offers extensive automation capabilities.
• Custom: Tailored solutions are available for larger enterprises with specific needs.

Note: Prices are subject to change; it’s advisable to consult Chaser’s official website for the most current information.

Best For

Chaser is ideal for small to mid-sized businesses across various industries that aim to automate their accounts receivable processes, reduce late payments, and improve cash flow. It’s particularly beneficial for companies seeking to maintain strong customer relationships while efficiently managing outstanding invoices.

By implementing Chaser, businesses can streamline complex financial processes, ensure data security, and focus more on strategic tasks that drive growth.

8. Quadient Accounts Receivable Software by YayPay

Quadient Accounts Receivable, powered by YayPay, is a cloud-based platform designed to automate and optimize the entire accounts receivable process. By leveraging predictive analytics and automation, it enhances cash flow management and improves customer relationships.

Key Features

• Automated Collections: Streamlines the collections process with custom workflows and automated communications, reducing manual effort and accelerating payment cycles.
• Predictive Analytics: Utilizes AI to forecast customer payment behaviors, enabling proactive management of credit risk and more accurate cash flow predictions.
• Comprehensive Dashboard: Provides real-time insights into outstanding invoices, Days Sales Outstanding (DSO), and payment trends, facilitating informed decision-making.
• Seamless Integrations: Connects effortlessly with various Enterprise Resource Planning (ERP) systems and accounting software, ensuring data consistency and streamlined operations.
• Secure Payment Portal: Offers customers a user-friendly platform to view and pay invoices, supporting multiple payment methods and enhancing the payment experience.

Benefits

• Accelerated Cash Flow: Automating invoicing and collections leads to faster payments, reducing DSO and improving liquidity.
• Enhanced Efficiency: Automation tools minimize manual data entry and repetitive tasks, allowing finance teams to focus on strategic initiatives.
• Improved Customer Relationships: Transparent communication and flexible payment options contribute to higher customer satisfaction and loyalty.
• Data-Driven Decisions: Advanced reporting and analytics provide actionable insights into financial performance, supporting effective financial planning.
• Regulatory Compliance: Ensures adherence to financial regulations through standardized processes and secure handling of sensitive financial data.

Pricing

Quadient Accounts Receivable by YayPay offers customized pricing based on invoice volume and specific business requirements. The starting price is approximately $500 per month. For detailed and up-to-date pricing information, it’s recommended to contact Quadient directly.

Best For

This solution is ideal for mid-sized to large B2B companies across various industries, including manufacturing, wholesale, consulting, and information technology outsourcing. It’s particularly beneficial for organizations aiming to automate complex financial processes, reduce manual accounting tasks, and gain predictive insights into customer payment behaviors. Finance teams seeking to enhance efficiency, ensure data security, and improve overall financial health will find Quadient Accounts Receivable by YayPay a valuable asset.

By implementing Quadient’s AR automation, businesses can streamline their accounts receivable processes, leading to improved cash flow management and stronger customer relationships.

9. Esker

Esker is a comprehensive accounts receivable (AR) automation platform designed to optimize the invoice-to-cash process. Leveraging artificial intelligence (AI), Esker enhances efficiency, visibility, and collaboration within AR operations.

Key Features

• Credit Management: Streamlines credit approvals and monitors risk to secure revenue effectively.
• Invoice Delivery: Automates invoice distribution in compliance with regulations across over 60 countries.
• Payment Processing: Facilitates faster payments through online options and a secure customer portal.
• Cash Application: Utilizes AI-powered remittance management for accurate payment allocation.
• Collections Management: Prioritizes collection tasks using AI-driven predictions and risk analysis.

Benefits

• Accelerated Cash Collection: Reduces Days Sales Outstanding (DSO) by up to 10 days, improving cash flow.
• Enhanced Efficiency: Automates repetitive tasks, allowing finance teams to focus on strategic activities.
• Improved Visibility: Provides real-time insights into AR performance, aiding informed decision-making.
• Regulatory Compliance: Ensures adherence to global invoicing regulations, reducing compliance risks.

Pricing

Esker offers customized pricing based on specific business requirements. For detailed information, it’s recommended to contact Esker directly.

Best For

Esker is ideal for mid-sized to large enterprises seeking to automate and optimize their accounts receivable processes. It’s particularly beneficial for organizations aiming to enhance cash flow management, ensure regulatory compliance, and leverage AI for improved financial operations.

By implementing Esker’s AR automation solutions, businesses can streamline complex financial processes, reduce manual data entry, and achieve better financial performance.

10. Gaviti

Gaviti is an autonomous invoice-to-cash platform designed to streamline and automate the accounts receivable (A/R) process. By leveraging artificial intelligence, Gaviti enables businesses to control, scale, and predict their A/R operations, leading to improved cash flow and reduced Days Sales Outstanding (DSO).

Key Features

• Automated A/R Management: Gaviti automates repetitive tasks such as sending payment reminders and tracking invoices, reducing manual effort and minimizing errors.
• Collections Analytics: Provides actionable insights into collections performance through intuitive dashboards, helping businesses optimize their strategies.
• Customer Self-Service Portal: Allows customers to view their account status, make payments, and communicate regarding invoices, enhancing transparency and customer satisfaction.
• Cash Application: Automatically matches incoming payments with outstanding invoices, accelerating the reconciliation process.
• Dispute Management: Centralizes communication and documentation for disputes, facilitating quicker resolutions and reducing revenue leakage.
• Credit Management: Monitors customer creditworthiness and sets appropriate credit limits to mitigate financial risks.
• ERP Integration: Seamlessly integrates with existing ERP systems, ensuring data accuracy and eliminating silos.

Benefits

• Reduced DSO: Clients have reported a 30% to 50% reduction in DSO within six months of implementation, leading to improved cash flow.
• Labor Cost Savings: Automation of A/R tasks results in significant time savings, allowing finance teams to focus on strategic initiatives.
• Enhanced Financial Visibility: Real-time analytics and reporting provide a comprehensive view of the A/R landscape, enabling informed decision-making.
• Improved Customer Relationships: The self-service portal and automated communications foster better client interactions and satisfaction.

Pricing

Gaviti offers modular pricing based on the specific products and features selected, as well as the number of unique customers invoiced per month. This flexible approach ensures that businesses only pay for the functionalities they need. For detailed pricing information, it’s recommended to contact Gaviti directly to obtain a quote tailored to your organization’s requirements.

Best For

Gaviti is ideal for medium to large B2B enterprises across various sectors, including wholesale, manufacturing, distribution, technology, business services, and logistics. It’s particularly beneficial for companies aiming to automate their A/R processes, reduce DSO, and gain comprehensive control over their financial operations. The platform’s scalability and integration capabilities make it suitable for organizations seeking to enhance their financial performance and customer relationships.

11. HighRadius

HighRadius offers AI-powered accounts receivable solutions designed to automate and optimize the order-to-cash process for enterprises. By leveraging artificial intelligence and machine learning, HighRadius aims to reduce Days Sales Outstanding (DSO) and minimize bad debt, enhancing overall financial performance.

Key Features

• AI-Prioritized Worklists: Utilizes AI algorithms to predict customer payment behaviors and prioritize collection activities, enabling finance teams to focus on high-risk accounts.
• Automated Cash Application: Streamlines the cash application process by automatically matching payments to invoices, reducing manual effort and errors.
• Credit Management: Provides real-time credit risk assessment and automates credit limit approvals, helping businesses manage credit exposure effectively.
• Deductions Management: Automates the identification and resolution of deductions, improving recovery rates and reducing revenue leakage.
• Electronic Invoice Presentment and Payment (EIPP): Facilitates electronic invoicing and payments, enhancing customer experience and accelerating cash flow.

Benefits

• Reduced DSO: By automating collections and cash application, businesses can accelerate payment cycles and reduce DSO.
• Improved Cash Flow: Enhanced visibility and control over receivables lead to better cash flow management.
• Increased Productivity: Automation of repetitive tasks allows finance teams to focus on strategic activities, boosting overall productivity.
• Enhanced Accuracy: AI-driven processes minimize errors in cash application and deductions management, ensuring accurate financial records.

Pricing

HighRadius offers customized pricing based on the specific needs and scale of the business. Prospective clients are encouraged to contact HighRadius directly to obtain detailed pricing information tailored to their requirements.

Best For

HighRadius is ideal for large enterprises seeking to automate and optimize their accounts receivable processes. Its solutions are particularly beneficial for organizations dealing with high transaction volumes and complex financial operations, aiming to reduce DSO, improve cash flow, and enhance overall financial efficiency.

12. Bill

Bill is a financial automation platform designed to streamline accounts payable and receivable processes for small and midsize businesses (SMBs). By automating tasks such as invoicing and payment collections, Bill helps businesses manage their cash flow more effectively.

Key Features

• Automated Invoicing: Create and send electronic invoices with ease, reducing manual data entry and errors.
• Payment Tracking: Monitor payment statuses in real-time, ensuring timely collections and improved cash flow management.
• Two-Way Sync with Accounting Software: Integrates seamlessly with popular accounting systems like QuickBooks and Xero, maintaining data consistency across platforms.
• Secure Payment Processing: Offers multiple payment options, including ACH and credit card payments, with robust security measures to protect sensitive financial data.

Benefits

• Time Savings: Automating repetitive tasks allows finance teams to focus on strategic activities, enhancing overall productivity.
• Improved Cash Flow: Faster invoicing and efficient payment tracking lead to quicker collections, bolstering financial health.
• Enhanced Accuracy: Reducing manual data entry minimizes errors, ensuring financial records are precise and up-to-date.
• Scalability: Bill’s features cater to growing businesses, adapting to increasing transaction volumes and complex financial processes.

Pricing

Bill offers several pricing plans to accommodate different business needs:

• Essentials: $45 per user/month, focusing on either accounts payable or receivable automation.
• Team: $55 per user/month, providing more granular controls and automatic two-way sync with leading accounting software.
• Corporate: $79 per user/month, offering additional customization and comprehensive management of both AP and AR.
• Enterprise: Custom pricing for businesses requiring enhanced security, premium support, and multi-location accounting capabilities.

Best For

Bill is ideal for small to midsize businesses seeking to automate their accounts payable and receivable processes. It’s particularly beneficial for companies looking to reduce manual data entry, improve cash flow management, and integrate seamlessly with existing accounting systems. Its scalability makes it suitable for growing businesses that anticipate increased transaction volumes.

Best Practices for Selecting the Right Software

Choosing the right accounts receivable software is a critical decision that can impact your business’s cash flow, efficiency, and overall financial health. To make the most of this investment, it’s essential to evaluate your needs and understand how different tools align with your operations. Below are some best practices to help you select the ideal solution for your business.

Assess Your Business Needs

Start by analyzing your current accounts receivable processes. Identify pain points, such as delayed payments, high manual workloads, or lack of visibility into cash flow. Determine which features—automation, analytics, or integrations—are essential for addressing these challenges.

Questions to consider when evaluating different options for an accounts receivable software:

• What are the current inefficiencies in your AR process?
• Do you need software that integrates with your existing accounting systems?
• How many users and transactions does the tool need to support?

Evaluate Core Features

Not all accounts receivable software offers the same functionality. Look for solutions that provide automation tools, real-time reporting, and integration with your existing accounting or ERP systems.

Key features to prioritize:

• Automation of repetitive tasks like invoice tracking and follow-ups.
• Advanced reporting and analytics to gain insights into your cash flow.
• Secure payment processing and multi-channel invoicing options.

Consider Scalability of Chosen Accounts Receivable Software

Your business needs today may not be the same as they are in a few years. Ensure the software can scale with your growth, handling increased transaction volumes and more complex workflows as your operations expand.

Scalability considerations:

• Does the software support multi-location or international operations?
• Can it integrate with other tools as your tech stack grows?
• Is it adaptable for new features or updates over time?

Ensure Strong Customer Support

Reliable customer support is crucial when implementing new software or troubleshooting issues. Choose a provider that offers accessible support channels, quick response times, and comprehensive training resources.

Support considerations:

• Are live chat, email, and phone support available?
• Does the provider offer onboarding or training sessions for your team?
• Are there helpful resources like FAQs, knowledge bases, or webinars?

Prioritize Data Security in Accounts Receivable Software

Accounts receivable involves handling sensitive financial data. Look for software that employs robust security measures, such as encryption, multi-factor authentication, and compliance with regulatory standards.

Security considerations:

• Does the software offer end-to-end encryption for financial transactions?
• Is it compliant with regulations like GDPR or SOC 2?
• Are there safeguards against unauthorized access or data breaches?

Request a Demo for Accounts Receivable Software

Before making a commitment, test the software through a demo or free trial. This allows you to assess its usability, features, and compatibility with your existing processes.

Tips for testing:

• Involve your finance team to get their feedback on functionality.
• Test key features like automation, reporting, and integrations.
• Evaluate how user-friendly the interface is for day-to-day use.

By following these best practices, you can confidently choose an accounts receivable software solution that meets your business needs, enhances efficiency, and drives financial success.

Final Thoughts

Efficient accounts receivable management is vital for maintaining healthy cash flow and driving business growth. By leveraging advanced software solutions like those highlighted in this article, businesses can automate repetitive tasks, improve financial insights, and enhance customer relationships. Choosing the right tool involves assessing your needs, evaluating key features, ensuring scalability, and prioritizing security and support. With the right solution, you can streamline your financial operations, reduce manual workloads, and focus on strategic growth.

Ready to transform your accounts receivable process? Try Kolleno today and experience a smarter, more efficient way to manage your receivables.