There’s no denying that there are a lot more software options out there today than at any time in the past. However, if you’re using a patchwork of different software solutions, you’re not getting the full benefit of technology.
Many companies have different packages to take care of accounts receivable, credit, payments, and related functions. What's worse, these don't integrate with their main accounting system!
The cost, time, and hassle of using so many different systems negate a lot of the benefits. Which is why all in one software for functions like this makes so much more sense.
Always accessible
Cloud based all in one software solutions to manage end to end accounts receivables is always accessible. Everyone who needs to access the system can login from anywhere, and with granular permissions and tiered account options, they’ll only be able to see and do what they’re authorized to do.
You can even configure these types of software to allow client access, so they can view and pay their accounts on one easy to use dashboard.
Easy, automated follow ups
One of the biggest problems with debt collection (aside from not getting paid on time!), is that it’s labour intensive. Calling a list of customers to follow up on unpaid bills takes a lot of time, but a good accounts receivable system with credit control built in makes it faster and easier.
Send automated reminders for overdue accounts, and let the system automatically put delinquent accounts on hold. With digital credit management, you get paid faster, and with less hands on time.
Built in debt collection
If polite reminders don’t work, and customers find new suppliers because their account is on hold, you might need to get debt collection help. Imagine all in one receivables software that offers debt collection services too?
So, you never have to send information to a third party. Just move your aged accounts to collections, and let the pros take over.
Credit checks on the fly
When your sales team wants to close a big deal, there’s a good chance they’ll pressure you to set up a credit facility. But we all know that you have to be very careful who you trust with credit these days.
What about a receivable’s platform that’s got credit checks built right in? Without leaving the platform, you can get instant credit reports on any potential customer. It’s fast, reliable, and lets your sales team get their new clients set up fast.
Better yet, when that platform integrates with your accounting software, you can import data directly, which makes setting up a new client even faster.
Digital payments
Fortunately, most of the people we do business with day to day pay their bills on time, and don’t need to be chased too much. Why not make their lives a little quicker and easier?
Advancements in payment processing mean there are dozens of payment options that can be used from a link or email. When your receivables platform integrates seamlessly with the API for the most popular payment systems, that’s exactly what it does.
Send an invoice and let your customers pay right from the email, with just a few clicks.
Push notifications
Push notifications, reminders and messages make our lives easier. Whether it’s a reminder on your phone or your email calendar. We use them for work, home and managing our family’s busy schedules. So why not get notifications when payments are made, invoices are received and more?
Receivable’s software that includes automated notifications to you and your clients mean that there’s one less email to send and one less phone call to make. Time really is money, so every time you can use a tool like this, you’re cutting costs.
Digital integration
These days, there are options to connect a wide variety of systems using things like APIs. However, when you’re trying to connect a lot of different tools and programs, you might have to hire a developer to set it all up. That can cost a lot of money and take a lot of time.
An end-to-end receivables program that already integrates with the most popular accounting programs and enterprise management programs means you can skip all of that. Just sign up, set up your account, and connect to the software you already use. You can hit the ground running and start saving time and money without delay.
Scalability
When companies are doing well, they grow. Maybe you add a few more people to your accounting team, or maybe you open another branch. With cloud based, end to end receivables software, it’s easy to add new users when you need to, and if its cloud based, they don’t all need to be in the same place.
Support and training
Learning new software takes time. If we’re honest, it’s one of the reasons we put off making changes that we know will make it easier to run our businesses. We just don’t think we’ll find the time to train everyone to get started.
This is another area where cloud-based software solutions make sense. With easy to access support, training resources and interfaces that are built to be intuitive and easy to use, there’s no steep learning curve. When you get stuck, there’s always someone who can help too.
Always up to date
One of the biggest benefits to using cloud-based platforms instead of old-fashioned desktop software is that you never have to worry that your software is out of date. So, it doesn’t matter if your operating system updates, or your software isn’t supported anymore.
Simpler, better, faster
Receivables is an essential part of your business. You need to make sure that you collect the money you’re owed when it’s due. But it eats up a lot of the day.
A receivables solution like Chaser takes the hard work out of staying on top of what you’re owed. Simple set up and automation options means things get done even when they slip your mind. So, you can turn what used to take all day into something as simple as logging in and reviewing your reports.
When payments come in faster, you can focus on other things. Like building your business and growing your customer base. It just makes sense.
